- Firms to launch first-of-its-kind model portfolio solution
streamlining retail wealth access to private equity, private
credit, and real assets
- Will enable advisors to deliver a one-stop multi-private
markets portfolio managed by two global asset managers
- Positions BlackRock and Partners Group to capture accelerating
growth in private markets and managed models
BlackRock (NYSE: BLK) and Partners Group (SIX: PGHN) have teamed
up to launch a multi-private markets models 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
U.S. 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.
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the full release here:
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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.
“We are simplifying how individual investors and advisors access
private markets,” said Mark Wiedman, Head of BlackRock’s
Global Client Business. “In a world where private markets are
growing by $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.”
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 Groups funds, including BlackRock’s private
equity, private credit and systematic funds and Partners Group’s
private equity, growth equity and infrastructure funds.
“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,” said Steffen
Meister, Partners Group's Executive Chairman. “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.”
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 $2.3T
to private markets in 2020 and are expected to increase their
allocations to $5.1T 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 $10-trillion
business.
Overall, BlackRock sees significant growth opportunity in U.S.
private wealth and is actively positioning the firm to become an
integral, whole portfolio partner to advisors in an increasingly
complex market. BlackRock’s U.S. 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 U.S. 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.
To learn more about the opportunity in private markets, read
BlackRock and Partners Group's recent paper: Solving the private
markets allocation gap: From products to portfolio
construction.
Forward-Looking Statements
This press release, and other statements that BlackRock may
make, may contain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act, with respect to
BlackRock’s future financial or business performance, strategies or
expectations. Forward-looking statements are typically identified
by words or phrases such as “trend,” “potential,” “opportunity,”
“pipeline,” “believe,” “comfortable,” “expect,” “anticipate,”
“current,” “intention,” “estimate,” “position,” “assume,”
“outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,”
“achieve,” and similar expressions, or future or conditional verbs
such as “will,” “would,” “should,” “could,” “may” and similar
expressions.
BlackRock cautions that forward-looking statements are subject
to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are
made, and BlackRock assumes no duty to and does not undertake to
update forward-looking statements. Actual results could differ
materially from those anticipated in forward-looking statements and
future results could differ materially from historical
performance.
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. For additional information on
BlackRock, please visit www.blackrock.com/corporate
About 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 build businesses
and assets into market leaders. For more information, please visit
www.partnersgroup.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240911376934/en/
BlackRock Christa Zipf christa.zipf@blackrock.com
+1-646-231-0013 +1-347-814-3447 Partners Group Jenny Blinch
jenny.blinch@partnersgroup.com +44 207 575 2571 +44 7825 035184
BlackRock (NYSE:BLK)
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