Blackrock Said to Plan Asian Private Equity Fund of Funds Pool

  • Move will be the first new Asian pool since Swiss Re purchase
  • Final decision on size of new fund yet to be finalized

BlackRock Inc., the world’s largest asset-management firm, plans to raise a new private equity pool focused on Asia, said people with knowledge of the matter.

The company is planning to raise a multi-strategy pool this year, said the people, who asked not to be identified because the information is private. The fund will invest in buyout funds currently being raised, while also co-investing in underlying companies and taking stakes in existing pools, the people said.

The new pool, which does not yet have a fundraising target, will be the first Asian-focused pool raised by BlackRock since its acquisition of Swiss Re AG’s private equity business in July 2012, which helped it expand in Asia, the people said. That transaction created a business with about $15 billion in assets under management.

A spokesman for Blackrock declined to comment.

BlackRock, like many of its peers, has taken steps to reorganize its private equity portfolio. Last November the company began a process to sell stakes in funds raised between 2000 and 2006 worth about $200 million, people familiar with the matter said at the time.

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