DUBAI (Reuters) – Dubai’s Emirates NBD bank is teaming up with BlackRock to offer its wealth management clients opportunities to access alternative asset classes, with a focus on private markets, it said in a statement on Tuesday. Both firms have signed a Memorandum of Understanding to establish an investment platform for the United Arab Emirates […]
Business
Dubai’s Emirates NBD partners with BlackRock to offer private markets access
Audio By Carbonatix
DUBAI (Reuters) – Dubai’s Emirates NBD bank is teaming up with BlackRock to offer its wealth management clients opportunities to access alternative asset classes, with a focus on private markets, it said in a statement on Tuesday.
Both firms have signed a Memorandum of Understanding to establish an investment platform for the United Arab Emirates (UAE) wealth management market, which will initially focus on private credit and multi-alternatives.
Private markets, including both equity and credit markets, are less liquid but also promise higher returns than listed securities.
Global demand for private market investments has been growing in recent years, providing investors with opportunities to diversify their portfolios and seek greater returns, as global capital markets activity slowed amid higher borrowing costs.
BlackRock, the world’s largest asset manager, spent roughly $28 billion in 2024 to strengthen its private market offerings.
Emirates NBD Asset Management clients will be able to invest in private markets through BlackRock’s Alternative Investments platform, which currently has over $450 billion in assets under management, according to Tuesday’s statement.
(Reporting by Federico Maccioni, editing by Rachna Uppal)