Blackrock has launched an evergreen private markets platform, the investment company said in a press release issued on 11 December 2024. The new platform, domiciled in Luxembourg, aims to expand investors’ access to private markets. It will enable clients in Europe, the Middle East and Asia Pacific to invest in institutional-quality assets across private equity, multi-alternatives, infrastructure, private debt and real estate under the new European Long-Term Investment Fund (Eltif 2.0) framework. The global alternatives market is expected to exceed $30trn by 2030, data firm Preqin said in a released in September.
“Our goal is to revolutionise access to private markets for wealth clients,” commented Stephen Cohen, chief product officer at Blackrock. “By launching this evergreen platform under the Eltif 2.0 framework, we are breaking new ground in making institutional-quality alternatives accessible to a wider range of investors. This demonstrates our commitment to staying ahead of clients' investment needs with innovative solutions.”
“Combining the Luxembourg Part II Sicav structure with the ELTIF 2.0 wrapper, the open-ended strategies will be accessible to a much broader range of wealth investors, including mass affluent,” noted the press release. To start with, the evergreen private markets platform will launch with two funds: one in private equity and one in multi-alternatives, added the communiqué. In the future, Blackrock aims to expand its platform to include strategies such as infrastructure, private debt and real estate.
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“We are excited to make alternatives much more accessible to a wider range of investors through the launch of our evergreen private markets platform, expanding our range of Eltifs under the new Eltif 2.0 framework,” said Fabio Osta, Blackrock’s head of the alternatives specialists team in EMEA wealth. “Building on Blackrock’s extensive track-record of managing risk and investing across multiple evergreen funds, these launches underscore our ability to bring innovative, client-focused solutions to market.”
The revised Eltif regulation, or Eltif 2.0, features more flexibility in eligible investment assets, portfolio composition and diversification requirements, the simplification of the definition of “real assets,” the possibility to set up Eltif fund-of-funds and other changes, explains the . Eltif 2.0 has applied from January 2024 and the delegated act on Eltif technical standards was .