$10 Trillion Asset Manager BlackRock & $149 Billion Partners Group to Launch Multi-Private Markets Model Solution for Retail Investors with Access to Private Equity, Private Credit & Real Assets in a Single Portfolio with 3 Risk Profiles via a Single Subscription Document Rather than Document Required for Each Underlying Fund, Retail Investors Will Have Access to BlackRock Private Equity, Private Credit & Systematic Funds and Partners Group Private Equity, Growth Equity & Infrastructure Funds, New Solution Currently Not Available in United States
12th September 2024 | Hong Kong
The world’s largest asset manager BlackRock ($10 trillion AUM) and Partners Group ($149 billion AUM) have formed a strategic partnership to launch a multi-private markets model solution for retail investors with access to private equity, private credit & real assets in a single portfolio with 3 risk profiles via a single subscription document rather than a document required for each underlying fund. Retail investors will have access to BlackRock private equity, private credit & systematic funds, and Partners Group private equity, growth equity & infrastructure funds. The new solution is currently not available in the United States. Announcement (12/9/24): “BlackRock (NYSE: BLK) and Partners Group (SIX: PGHN) have teamed up to launch a multi-private markets model solution set to transform how retail investors access alternative investments. The solution will provide access to private equity, private credit, and real assets in a single portfolio – currently not available to the US wealth market – managed by BlackRock and Partners Group. This first-of-its-kind solution will empower advisors to offer a diversified alternatives portfolio with the simplicity, efficiency, and practice management benefits of a traditional public markets model. The strategic partnership combines BlackRock’s experienced alternatives team, operational expertise, and whole portfolio capabilities powered by Aladdin technology with Partners Group’s long track record of innovation in bringing private markets to the wealth market, leveraging its extensive investment platform and portfolio management capabilities. The solution will enable ease of access through a single subscription document versus requiring subscription documents for each underlying fund. It will feature robust operating procedures and risk management, including model rebalancing and comprehensive private markets asset allocation. Retail wealth investors will choose from three risk profiles to determine allocations to BlackRock and Partners Group funds, including BlackRock’s private equity, private credit, and systematic funds and Partners Group’s private equity, growth equity, and infrastructure funds. Retail wealth investors are leading the adoption of private markets as they seek portfolios offering exposure to the companies and assets they cannot access via public markets and therefore the potential for uncorrelated returns. These investors allocated USD 2.3 trillion to private markets in 2020 and are expected to increase their allocations to USD 5.1 trillion by 2025 according to a Morgan Stanley/Oliver Wyman Study. Managed models also present a significant growth opportunity. BlackRock expects managed model portfolios to roughly double in AUM over the next five years, growing into a USD 10 trillion business. Overall, BlackRock sees significant growth opportunity in US private wealth and is actively positioning the firm to become an integral, whole portfolio partner to advisors in an increasingly complex market. BlackRock’s US Wealth Advisory business is a key growth-driver for the firm, generating a quarter of BlackRock’s revenues in 2023. Partners Group has accumulated more than two decades of leadership in managing private markets evergreen solutions since launching its first such product in 2001. The firm launched the first US private equity evergreen fund in 2009, which today remains the largest in the market with a total fund size of USD 15.5 billion. As of 30 June 2024, evergreen funds accounted for 30% of Partners Group’s global AUM.” In 2024 July, BlackRock launched the BlackRock Global Funds – Global Unconstrained Equity Fund in Hong Kong & Singapore, investing in equity securities with viable competitive advantages & potential for competitive long-term capital growth.
“ $10 Trillion Asset Manager BlackRock & $149 Billion Partners Group to Launch Multi-Private Markets Model Solution for Retail Investors with Access to Private Equity, Private Credit & Real Assets in a Single Portfolio with 3 Risk Profiles via a Single Subscription Document Rather than Document Required for Each Underlying Fund, Retail Investors Will Have Access to BlackRock Private Equity, Private Credit & Systematic Funds and Partners Group Private Equity, Growth Equity & Infrastructure Funds, New Solution Currently Not Available in United States “
Mark Wiedman, Head of BlackRock’s Global Client Business: “We are simplifying how individual investors and advisors access private markets. In a world where private markets are growing by USD 1 trillion or more every year, many financial advisors still find it too difficult to help their clients participate. We aim to crack that. With Partners Group, we are creating a single, managed account with unified portfolio construction and management. The result? Simplified, efficient access for financial advisors and their clients.”
Steffen Meister, Partners Group’s Executive Chairman: “This separately managed account solution has the potential to revolutionize the wealth management industry, setting a new benchmark for institutional-quality programs that meet wealth investors’ private markets portfolio needs. The financing of business has undergone a major transformation in recent decades with private markets playing a key role in the real economy, so it is vital that investors have access to private markets investments as part of a balanced portfolio.”
BlackRock – BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.
Partners Group – Partners Group is one of the largest firms in the global private markets industry. The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, and royalties. With its heritage in Switzerland and its primary presence in the Americas in Colorado, Partners Group is built differently from the rest of the industry. The firm leverages its differentiated culture and its operationally oriented approach to identify attractive investment themes and to transform businesses and assets into market leaders.
World Largest Asset Manager $10 Trillion BlackRock Launches Global Unconstrained Equity Fund in Hong Kong & Singapore, Investing in Equity Securities with Viable Competitive Advantages & Potential for Competitive Long-Term Capital Growth, Fund is Not Constrained by Typical Mandates Such as Benchmarks, Sectors, Countries or Defined Factors, Fund Managed by Portfolio Managers Alister Hibbert & Michael Constantis, BlackRock Global Unconstrained Equity Strategy was Launched in 2020
12th July 2024 – The world’s largest asset manager BlackRock with $10 trillion AUM has launched the BlackRock Global Funds – Global Unconstrained Equity Fund in Hong Kong & Singapore, investing in equity securities with viable competitive advantages & potential for competitive long-term capital growth. The fund is not constrained by typical mandates such as benchmarks, sectors, countries or defined factors. The fund is managed by portfolio managers Alister Hibbert & Michael Constantis. BlackRock Global Unconstrained Equity Strategy was first launched in 2020. BlackRock (11/7/24): “BlackRock today launches the BlackRock Global Funds – Global Unconstrained Equity Fund (“GLUE” or the “Fund”) in Hong Kong and Singapore. GLUE offers a concentrated and high-conviction long-term portfolio that is not constrained by benchmarks, sectors, countries or factors when selecting the Fund’s investments. The Fund invests in equity securities that have viable competitive advantages and the potential to produce competitive long-term capital growth … … Managed by BlackRock’s portfolio managers Alister Hibbert and Michael Constantis and built on an extensive network of talent and expertise, the Global Unconstrained Equity strategy was first launched in 2020 with the conviction to be benchmark agnostic, highly selective and invested for the long-term. Through deep fundamental research to identify high-conviction ideas, GLUE currently invests in 20-30 companies that demonstrate resilience and strong potential to sustain high returns over time. These companies could be from anywhere in the world and in any industry, but they need to satisfy certain attributes, including an established market position, addressable market opportunity, high margins and returns, and strong management teams. By cutting out the complexities of traditional benchmarks, geographic and sector constraints, and short-term market noise when selecting the Fund’s investments, GLUE seeks to allocate capital to align with the long-term investment goals of investors.”
Alister Hibbert, Portfolio Manager & Co-founder of the BlackRock Global Unconstrained Equity strategy: “Great businesses that can sustain high returns over very long periods are rare but may offer significant outperformance. Our unconstrained, high conviction and long-term approach helps us find outperformance and capital growth where few others are looking. Our team is dedicated to the effort of identifying these companies from around the world – which requires a broad worldview, persistence and human insight.”
Joseph Williams, Head of Strategy for Strategic Equity & Fundamental Equity Hedge Funds: “We are excited to further extend BlackRock’s range of products to investors in Hong Kong and Singapore through offering GLUE. Over the last few years, APAC investors have had to weather numerous periods of short- term volatility. GLUE offers the opportunity to look through these and focus on companies’ long-term earnings power, without constraints, and seeks to help our clients achieve their financial goals.”
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