Emirates NBD has entered a memorandum of understanding (MoU) with BlackRock to launch a private markets access platform.
This initiative aims to offer the bank’s wealth clients access to alternative investments, mainly in private markets.
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The collaboration is expected to “democratise” the alternative assets domain, which is projected to grow to $30tn by the end of the decade.
The partners will initially roll out an array of evergreen offerings, focusing on income and growth strategies tailored for the UAE wealth sector.
BlackRock will implement its open architecture approach to enhance Emirates NBD Asset Management’s private markets offering.
This include additional services such as marketing, education, training, and technology.
BlackRock International head Rachel Lord said: “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.”
The long-term objective of the Emirates NBD Asset Management platform is to make alternative assets more accessible to clients across the Middle East.
The offerings will leverage BlackRock’s Alternative Investments platform that has over $450bn in assets under management (AUM) and is supported by more than 1,000 workers across more than 50 countries.
Emirates NBD retail banking and wealth management group head Rachel Lord 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.”
Recently, CB WEALTH partnered with BlackRock, aiming to offer Thai investors global investment opportunities.
