Emirates NBD teams up with BlackRock to expand private market access
The two firms signed a memorandum of understanding to create this platform, as well as introduce an initial range of evergreen offerings focused on income and growth strategies, tailored exclusively for the UAE wealth market, according to a press statement.
Clients of Emirates NBD Asset Management will gain access to BlackRock's Alternative Investments platform, which currently oversees more than $450 billion in assets under management.
The appetite for private market investments has been rising globally, driven by investors seeking portfolio diversification and stronger returns. This trend is further fueled by a slowdown in global capital market activity amid higher borrowing costs, with the alternative asset market projected to reach $30 trillion by the end of the decade.
Marwan Hadi, group head of retail and wealth management at Emirates NBD, said: 'Innovation is a cornerstone at Emirates NBD, and 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.'
He added: 'We are deeply committed to creating value through our offerings and advancing the investment landscape in the UAE and the wider region, which has been experiencing a strong appetite in the last few years.'
This partnership also aims to democratize investment opportunities previously limited to institutional investors and ultra-high-net-worth individuals.
Beyond investment opportunities, BlackRock will leverage its open architecture approach to support Emirates NBD Asset Management's private markets expansion, offering services including marketing, education, training, and technology.
'We are delighted to partner with Emirates NBD as they build out their private markets platform. Spurred by investor sentiment and facilitated by product innovation, technology, and regulatory advancements, wealth allocations to private markets are predicted to increase materially over the next five years,' said Rachel Lord, head of International at BlackRock.
Emirates NBD serves more than 9 million customers across 13 countries, holding 997 billion dirhams ($271 billion) in assets as of Dec. 31, 2024.
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