BlackRock Inc.’s Chief Executive Officer Laurence D. Fink said his firm is seeking to run as much as $30 billion in infrastructure investments, five times as much as it manages now.
“The best way of creating great jobs and quality of life is through improvement of infrastructure,” Fink said on Tuesday at the Pensions and Investments conference in New York. BlackRock’s clients are also “desperate” for higher-yielding assets, so infrastructure is an attractive investment, he said.
BlackRock, the world’s largest money manager, is expanding offerings targeting infrastructure projects such as roads and bridges as it seeks alternatives to traditional bond investments, whose returns have been eroded by years of near-zero interest rates. The firm this month agreed to buy Infraestructura Institucional, a Mexican infrastructure investment firm, to expand its presence in the country.
BlackRock manages $4.8 trillion in assets across mutual funds, exchange-traded funds, institutional accounts and alternative investments such as hedge funds.