US asset manager BlackRock has launched an evergreen private markets platform for wealth investors in Europe, which is also accessible to clients in the Middle East and Asia Pacific.
The platform claims to be the industry’s first to provide wealthy clients with evergreen, multiple fund exposure to institutional-quality alternative investments under the new European Long-Term Investment Fund (ELTIF) 2.0 framework.
Investors into the platform will benefit from exposure to a collection of strategies leveraging the new ELTIF 2.0 wrapper across private equity, multi-alternatives, infrastructure, private debt and real estate.
The strategies will leverage the deep investment, technology and data expertise, broad market access and whole portfolio capabilities of BlackRock’s private markets franchise, with the initial two funds managed by BlackRock Private Equity Partners and BlackRock Alternative Portfolio Solutions.
The global alternatives market is forecast to exceed $30tn by 2030, according to Preqin. Wealth investors are leading the adoption of private markets as they seek portfolios offering exposure to the companies and assets they cannot traditionally access via public markets, and therefore the potential for uncorrelated returns. Research from the BlackRock Investment Institute (BII) suggests that some investors might benefit from portfolio allocations of up to 20% in private markets.
Stephen Cohen, Chief Product Officer, BlackRock, said: “Our goal is to revolutionize access to private markets for wealth clients.
“By launching this evergreen platform under the ELTIF 2.0 framework, we are breaking new ground in making institutional-quality alternatives accessible to a wider range of investors. This demonstrates our commitment to staying ahead of clients’ investment needs with innovative solutions.”
