BlackRock Holds Final Close Of BlackRock Private Equity Opportunities ELTIF
BlackRock Private Equity Partners (PEP) has held the final close of its BlackRock Private Equity Opportunities ELTIF (PE ELTIF), an investment strategy offering access to global private equity direct co-investment opportunities with a focus on Europe. The Fund secured total commitments of €509mn, exceeding its initial target. It becomes one of the largest European Long-Term Investment Funds (ELTIFs) raised in Europe to date.
The fund is BlackRock’s first under its ELTIF platform which aims to regularly bring new private market products to its european client base. Its long-term investment themes’ focus on consolidation, corporate carve-outs and family owned or small-cap opportunities, key sectors targeted include media & technology, healthcare, and industrial & business services.
BlackRock raised capital in partnership with 10 European wealth managers that benefitted from the new European ELTIF regulation which allows broadened distribution of private market funds to end-investors across Europe. Additionally, the fund secured a total of 25 institutional investors across Europe.
“We are delighted to be closing one of the largest Private Equity ELTIFs in Europe, a milestone achievement by BlackRock Private Equity Partners. This fund is intended to provide both Wealth and Institutional clients the opportunity to invest in the real economy, supporting sustainable growth in Europe. This successful close demonstrates the strength of the BlackRock Alternative Investors ecosystem, in which clients benefit from differentiated sourcing and diverse deal flow, a strong investment and risk culture, alongside market leading data insights and a fully integrated ESG strategy,” said Russ Steenberg, Managing Director and Global Head of Private Equity Partners.
BlackRock says it intends to launch additional strategies annually, starting with infrastructure.
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