BlackRock Private Equity Partners has hit a €509m final close for its latest long-term investment fund targeting global direct co-investments.
The firm said BlackRock Private Equity Opportunities ELTIF is one of the largest European Long-Term Investment Funds raised to date.
It said the vehicle is its first under its ELTIF platform, which aims to regularly bring new private market products to its European client base.
European ELTIF regulation requires funds to observe strict limitations on its use of leverage and derivatives, as well as avoiding short selling.
BlackRock PEP says it focuses on consolidation, corporate carve-outs and family owned or small-cap opportunities, with key sectors including media and technology, healthcare and industrial & business services.
Russ Steenberg, managing director and global head of BlackRock PEP, said, “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.”
BlackRock said the success of the private equity strategy means it now intends to launch additional strategies each year, beginning with infrastructure.
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Source: https://www.altassets.net/private-equity-news/by-region/europe-by-region/western-europe-europe-by-region/blackrock-pep-strikes-e509m-eltif-co-investment-fund-close-eyes-infra-next.html
