BlackRock Restarts Fundraising for Long-Term PE Strategy
- Seeks to raise up to $3 billion for Private Capital fund
- Asset manager initially sought to raise as much as $12 billion
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BlackRock Inc. is making a new push to raise money for its long-term private equity fund after initially struggling to attract investors.
The world’s largest asset manager is seeking to gather an additional $2 billion to $3 billion for its Long Term Private Capital strategy, according to people with knowledge of the matter. The fund, which acquires stakes in private companies, announced its initial close last January, having amassed $3.44 billion, falling short of its earliest target of as much as $12 billion.