BlackRock eyes Asia with $630m global buyout fund

Investors included public and private pension funds, insurers and foundations in North American and Europe, according to a statement. The BlackRock Private Opportunities Fund III will build a portfolio diversified by geography, strategy and industry sector.

"It's important to invest in businesses where there is a range of possibilities to create and realize value," said Russell Steenberg, managing director and global head of BlackRock Private Equity Partners. "That's why we're looking to back strong management teams in all-weather businesses that can benefit from some sort of corporate change event but require support in transition, integration and operations to realize the full potential."

The fund is expected to target consolidation and roll-up plays, corporate carve-outs, energy investments, special situations, family-owned and small-cap buyout and growth opportunities as well as state-owned enterprises and privatizations.

BlackRock claims to manage more than $22 billion in private equity investments globally, making a combination of fund commitments, co-investments with GPs and direct investments. It has offices in Japan, Hong Kong, Singapore, Taiwan, Korea, India, China and Australia, with more than 1,300 employees across Asia ex-Japan.

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• Topics
• North America
• Buyout
• Fundraising
• BlackRock
• Asia