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25/03/2025 10:06 AST
Now, Emirates NBD's high networth clients can access BlackRock's expertise to widen their alternate-investment choices, especially in private markets.
Until now, such access to the BlackRock universe would only be available to institutional investors. (Private markets represent the 'fastest-growing segment of asset management', with alternative assets expected to reach $30 trillion by the end of the decade.)
This follows a MoU the UAE financial institution signed up with one of the world's biggest fund managers.
BlackRock to create an investment platform that will provide the bank's wealth clients access to alternatives, specifically within private markets.
Emirates NBD Asset Management and BlackRock will launch an initial range of offerings to allow investors tap income and growth strategies on an 'exclusive basis' in the UAE wealth market.
BlackRock will deploy its 'open architecture approach' to support Emirates NBD Asset Management's plans to expand its private markets choices.
"The long-term goal is to democratise the alternative assets space and offer Emirates NBD's clients across the Middle East access to alternatives across all major asset classes," said a statement.
According to Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, "We are pleased to partner with BlackRock to offer access to best-in-class, products in alternative markets through a dedicated platform while supporting the growing needs of investors in the region."
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