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BlackRock gets green light to launch long-term asset fund
BlackRock has received regulatory approval from the United Kingdom’s Financial Conduct Authority to launch a long-term asset fund (LTAF).
The open-ended BlackRock Diversified Alternative Strategies LTAF will blend multiple private market asset classes, such as infrastructure, private credit, private equity and real estate, offering defined contribution schemes a broader set of opportunities.
BlackRock said the LTAF will invest in alternative strategies that have sustainability characteristics, such as those which will have a social impact and those supporting the transition to a low-carbon economy.
As of March 31, BlackRock manages £258 billion ($283 billion) in alternative investments and commitments on behalf of clients worldwide.