$10 Trillion Asset Manager BlackRock, Microsoft, Global Infrastructure Partners (GIP) & UAE Investment Firm MGX to Launch $30 Billion Fund Global AI Infrastructure Investment Partnership to Invest in AI Infrastructure to Build Data Centres & Supporting Energy Infrastructure, Total of $100 Billion Investment Potential Including Debt Financing
19th September 2024 | Hong Kong
The world’s largest asset manager BlackRock ($10 trillion AUM), Microsoft, Global Infrastructure Partners (GIP) & UAE investment firm MGX have announced to launch a $30 billion fund Global AI Infrastructure Investment Partnership to invest in AI infrastructure to build data centres & supporting energy infrastructure, with a total potential of $100 billion investment including debt financing. Announcement (17/9/24): “The drive to develop more powerful AI capabilities will require significant infrastructure investment to support it. Today, BlackRock, Global Infrastructure Partners (GIP), Microsoft, and MGX announced the Global AI Infrastructure Investment Partnership (GAIIP) to make investments in new and expanded data centers to meet growing demand for computing power, as well as energy infrastructure to create new sources of power for these facilities. These infrastructure investments will be chiefly in the United States fueling AI innovation and economic growth, and the remainder will be invested in U.S. partner countries. This partnership will support an open architecture and broad ecosystem, providing full access on a non-exclusive basis for a diverse range of partners and companies. NVIDIA will support GAIIP, offering its expertise in AI data centers and AI factories to benefit the AI ecosystem. GAIIP will also actively engage with industry leaders to help enhance AI supply chains and energy sourcing for the benefit of its customers and the industry. The partnership will initially seek to unlock $30 billion of private equity capital over time from investors, asset owners, corporates, which in turn will mobilize up to $100 billion in total investment potential when including debt financing. The founders of the partnership bring together leading global investors BlackRock, GIP, and MGX, an artificial intelligence and advanced technology investor, with funding as well as expertise from Microsoft. GAIIP combines deep understanding of infrastructure and technology to drive efficient scaling of data centers, with energy, power, and decarbonization investment capabilities for related enabling infrastructure for AI … … MGX was created in Abu Dhabi earlier this year to invest in AI and advanced technologies with global partners to enable the technology fabric of the global economy, focusing on AI infrastructure; AI-enabled technology; and semiconductors. Today’s announcement is a major partnership within those segments, building on the emirate’s longstanding investment track record in data centers, compute capacity, and enabling infrastructure. Significant structural forces are creating opportunities for private capital to partner with corporations and governments to provide financing for critical infrastructure needs. BlackRock has a broad network of corporate relationships as a long-term investor in their debt and equity, and GIP specializes in investing in, owning, and operating some of the largest and most complex infrastructure assets in the world. These combined capabilities position BlackRock as a world leading investment platform to make these critical investments in data centers and related infrastructure, mobilizing private capital to support economic growth and job creation while generating long-term investment benefits for its clients.” In 2024 September, BlackRock 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.
” $10 Trillion Asset Manager BlackRock, Microsoft, Global Infrastructure Partners (GIP) & UAE Investment Firm MGX to Launch $30 Billion Fund Global AI Infrastructure Investment Partnership to Invest in AI Infrastructure to Build Data Centres & Supporting Energy Infrastructure, Total of $100 Billion Investment Potential Including Debt Financing “
His Highness Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of MGX, emphasized the importance of AI for the future of our economies: “Artificial intelligence is not just an industry of the future, it underpins the future. Through this unique partnership, we will enable faster innovation, technological breakthroughs and transformational productivity gains across the global economy. The investments we make today will secure a more sustainable, prosperous and equitable future for all mankind.”
“Mobilizing private capital to build AI infrastructure like data centers and power will unlock a multi-trillion-dollar long-term investment opportunity,” said Larry Fink, Chairman and CEO of BlackRock. “Data centers are the bedrock of the digital economy, and these investments will help power economic growth, create jobs, and drive AI technology innovation.”
“We are committed to ensuring AI helps advance innovation and drives growth across every sector of the economy,” said Satya Nadella, Chairman and CEO, Microsoft. “The Global AI Infrastructure Investment Partnership will help us deliver on this vision, as we bring together financial and industry leaders to build the infrastructure of the future and power it in a sustainable way.”
“The capital spending needed for AI infrastructure and the new energy to power it goes beyond what any single company or government can finance,” said Brad Smith, Vice Chair and President of Microsoft. “This financial partnership will not only help advance technology, but enhance national competitiveness, security, and economic prosperity.”
“Building the necessary infrastructure required to advance and accelerate the adoption of AI will reshape and revitalize almost every aspect of how we live,” said Ahmed Yahia Al Idrissi, CEO of MGX. “Similar to our transportation infrastructure, new data centers and power sources will enable growth and commerce in the future innovation economy.”
“There is a clear need to mobilize significant amounts of private capital to fund investments in essential infrastructure. One manifestation of this is the capital required to support the development of AI,” said Bayo Ogunlesi, Chairman and CEO of Global Infrastructure Partners. “We are highly confident that the combined capabilities of our partnership will help accelerate the pace of investments in AI-related infrastructure.”
“Accelerated computing and generative AI are driving a growing need for AI infrastructure for the next industrial revolution,” said Jensen Huang, founder and CEO of NVIDIA. “NVIDIA will use its expertise as a full stack computing platform to support GAIIP and its portfolio companies on the design and integration of AI factories to propel industry innovation.”
About 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.
About Global Infrastructure Partners (GIP) – Global Infrastructure Partners (GIP) is a leading infrastructure investor that specializes in investing in, owning and operating some of the largest and most complex assets across the energy, transport, digital infrastructure and water and waste management sectors. On September 13, 2024, BlackRock issued a press release announcing that it expects to close its previously announced acquisition of GIP on October 1, 2024, subject to customary closing conditions, including the receipt of specified regulatory approvals and clearances.
About Microsoft – Microsoft (Nasdaq “MSFT” @microsoft) creates platforms and tools powered by AI to deliver innovative solutions that meet the evolving needs of our customers. The technology company is committed to making AI available broadly and doing so responsibly, with a mission to empower every person and every organization on the planet to achieve more.
About MGX – MGX is a technology investment company focused on accelerating the development and adoption of AI and advanced technologies through world-leading partnerships in the United Arab Emirates (UAE) and globally. MGX invests in sectors where AI can deliver value and economic impact at scale, including semiconductors, infrastructure, software, tech-enabled services, life sciences, and automation.
$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 – 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.
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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