BlackRock triples annual investment in Apac private assets
In keeping with its increased commitment, the world’s largest asset manager has beefed up its private markets talent pool in the region
BLACKROCK has tripled its capital deployment into private assets in the Asia-Pacific to around US$3 billion a year, compared to US$1 billion in 2020.
Michael Dennis, BlackRock head of alternatives strategy and capital markets (Asia-Pacific), said: “To be a leading player in private markets, given our ambitions, we have to be present locally. That has been our push over the past four years… We’re really proud of the (capital) deployment. Because that reflects the change in the Asian business in the best way.”
In keeping with its increased commitment, the firm has beefed up its private markets talent pool in the region, which currently employs around 150. Of these, 30 are in Singapore working in the areas of infrastructure, real estate, private equity and private debt. Brad Kim, managing director of BlackRock Global Infrastructure Funds, is based in Singapore and heads the Apac diversified infrastructure team.
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