Key Takeaways
- • BlackRock estimates capital commitments from private wealth investors will make up close to one-fifth of its alternatives assets by year-end 2020, according to alternatives chief Edwin Conway.
- • The projection signals that the wealth management channel is becoming a meaningful source of capital for BlackRock's private markets franchise.
- • Conway's comments were reported by PEI Private Equity on July 28, 2020.
Summary
BlackRock expects private wealth investors to account for close to a fifth of its alternatives assets by the end of 2020, according to Edwin Conway, the firm's head of alternatives, as reported by PEI Private Equity on July 28, 2020. The estimate points to a growing role for individual and high-net-worth clients in the capital base of the world's largest asset manager's alternative investment platform.
The comments indicate that BlackRock sees the wealth channel as a material growth driver for its private markets business, which has historically been dominated by institutional investors such as pension funds, endowments and sovereign wealth funds. The primary source is brief and does not provide additional detail on specific fund vehicles, commitment amounts or the timing of product launches.
The comments indicate that BlackRock sees the wealth channel as a material growth driver for its private markets business, which has historically been dominated by institutional investors such as pension funds, endowments and sovereign wealth funds. The primary source is brief and does not provide additional detail on specific fund vehicles, commitment amounts or the timing of product launches.
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