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Alternative Market Briefing

BlackRock plans to raise $1bn for a first-of-its-kind multi-alternatives fund

Thursday, May 12, 2022

Laxman Pai, Opalesque Asia:

BlackRock Alternative Investors plans to raise $1 billion to invest in companies owned, led, or serving people of color, the latest example of the financial industry moving to address inequality.

According to a press release from the American multinational investment management corporation based in New York City, the first-of-its-kind multi-alternatives fund has already gathered more than $800 million and will focus on businesses and projects that serve Black, Latinx, and Native American communities in the US.

Initial investors include Anthem, Costco Wholesale, Johnson Controls, Lincoln Financial Group, PayPal, State Farm, and W.K. Kellogg Foundation, demonstrating broad-based institutional demand for differentiated investment opportunities in undercapitalized communities.

"This return-seeking fund looks to uncover compelling investment opportunities in undercapitalized companies and communities that are poised for growth. It takes a novel approach to social impact by making direct investments across private equity, private credit, infrastructure, real estate, and other niche asset classes - using a wide range of tools seeking to create collective wealth for the businesses and communities in which it invests, and to generate returns for the fund's investors," said the release.

The fund is led by a team of diverse portfolio managers that leverages BlackRock Alternative Investors' $330 billion private markets platform, as......................

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