NEW YORK (BUSINESS WIRE) Apr 8, 2021
BlackRock Real Assets has successfully achieved a US$4.8 billion final close of Global Renewable Power Fund III (âGRP IIIâ or the âFundâ) with commitments from over 100 institutional investors, including leading public and private pension funds, insurance companies, endowments, foundations and family offices from over 18 countries globally.
GRP III is the third vintage of BlackRockâs Global Renewable Power fund series and the fifth Fund overall, which invests in global climate infrastructure assets, primarily in renewable power generation, across Americas, Europe and Asia. GRP III seeks to deliver attractive risk-adjusted returns with positive and measurable environmental and social impact by investing across the spectrum of renewable power and supporting infrastructure globally, including energy storage and distribution and electrified transport. Its opportunity set reflects the evolving renewable energy market as well
Kai Pfaffenbach/Reuters
BlackRock has named Stephanie Smith as chief operating officer of its alternatives business.
The firm said in a memo that Smith, a longtime Goldman leader, would join this summer.
BlackRock has been investing in its alternatives unit, which oversees $276 billion in assets.
BlackRock has hired Stephanie Smith, who spent two decades at Goldman Sachs and rose to its elite partner ranks, as the chief operating officer of its alternatives business, the firm told employees on Thursday.
Smith, most recently the head of operations for Goldman s consumer and wealth-management division, will help oversee and set strategy and direction for BlackRock Alternative Investors a key area the firm has been investing in.
BlackRock banks $3bn for first dedicated secondary strategy Thursday, April 01, 2021
Laxman Pai, Opalesque Asia:
The world s largest asset manager BlackRock Inc. has raised $3 billion to invest in the private equity secondary market to expand its presence in illiquid alternative investments.
The capital raised by BlackRock Private Equity Partners included $2.4 billion for its debut Secondaries and Liquidity Solutions Fund, which exceeded an initial target of $1.5 billion. The Fund is among the largest debut funds ever raised to buy secondhand private equity stakes.
According to WSJ, secondary funds have been one of the fastest-growing parts of the private-equity industry over the past year, with investor demand surging even after the pandemic hit.
BlackRock Real Estate closes fifth Asia property fund at $1.2b, surpassing target
Photo: Pradeep Gaur/Mint
March 2, 2021
BlackRock Real Estate, the realty investment management arm of global investment manager BlackRock, has closed its fifth Asia-focused fund with capital commitments amounting to $1.175 billion, it announced on Tuesday.
The fifth fund, BlackRock Asia Property Fund V, which invests in real estate assets across Asia Pacific, was oversubscribed and surpassed its $1 billion target, the investment firm said in a statement.
The fund’s investors include new and existing institutional investors across Europe, Asia, and the Americas comprising private pension funds, insurance companies, sovereign wealth funds, family offices, and endowments. In addition, 75% of clients in the predecessor fund invested in the fifth fund, the statement added.