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Year Founded: 1988

AUM: $10.00T | Dry Powder: $20.15B

40 East 52nd Street, New York, NY 10022, US
BlackRock is an asset manager and private equity firm which provides a wide range of services such as investment banking, risk management, advisory, equity, fixed income, balanced portfolios and asset management. It seeks to invest in real estate, education, retail, energy, healthcare, materials, financial services, software, and IT sectors

Key Contacts

  • Laurence Fink
    Co-Founder, CEO and Chairman
  • Jean-Francois Cirelli
  • Gary Shedlin
    Chief Financial Officer & Global Executive Committee Member

Investment Preferences

  • Preferred Industries
    Energy Services, Exploration, Production and Refining, Insurance, Media, Other Business Products and Services, Other Energy, Other Financial Services, Pharmaceuticals and Biotechnology, Commercial Transportation
  • Geographical Preference
    Mid Atlantic, Midwest, Northeast, Southeast, West Coast
  • Preferred Deal Types
    Buyout/LBO, PE Growth/Expansion, Secondary Transaction – Private
  • Other Investment Preferences
    • Prefers majority stake
    • Prefers minority stake
    • Will not syndicate

Investments By Year

Source: Pitchbook

Funds Closed

Global Renewable Power Fund III
Vintage: 2021

Size: $4.80B

Dry Powder: $3.57B

Details: The fund seeks to invest in renewable power generation, energy storage and distribution

EU Middle Market Private Debt Fund II
Vintage: 2021

Size: $1.78B

Dry Powder: $1.OB

Details: The fund seeks to invest in healthcare, software and business product and service sectors

Global Energy and Power Infra. Fund III
Vintage: 2019

Size: $5.10B

Dry Powder: $3.70B

Details:The fund preferably invests in energy infrastructure industries mainly in the US

Investments By Industry

Investments By Region

Source: Pitchbook

Key Investments

In December 2022, Bright Energy Partners received KRW170 billion of development capital from BlackRock. The investment will be used for the acquisition and construction of BEP’s small-scale solar assets in South Korea, which will deliver a total of over 500MW in power generation. Part of funding will also be used to accelerate the company’s newly launched electric vehicle (EV) fast-charging business

In November 2022, Through a fund managed by its Diversified Infrastructure business, BlackRock Alternatives agreed to acquire Jupiter Power, an operator, and developer of stand-alone utility-scale battery energy storage systems, for an undisclosed amount. At present, Jupiter Power has around  340MWh of projects under or nearing construction, as well as a development pipeline exceeding 11GW

In September 2022, a fund managed by BlackRock Real Assets agreed to acquire solarZero, a leading player in the solar and smart battery sector in New Zealand. As part of the acquisition, BlackRock Real Assets intends to commit over NZD100 million of capital over the next three years to accelerate the growth of solarZero’s solar and battery technology platform

In August 2022, BlackRock announced the acquisition of Australian battery energy storage systems and renewable energy developer Akaysha Energy by its BlackRock Real Assets division, with plans to commit over AUD1 billion to support the development of over 1GW of battery storage assets across Australia

In July 2022, BlackRock and Mubadala received the approval for acquisition of 11.43% Stake in Tata Power Renewables. BlackRock and Mubadala will invest $525 million in equity or compulsorily convertible instruments for a 10.53% stake in Tata Power Renewable Energy. The final shareholding will range from 9.76% to 11.43% on final conversion. Tata Power Renewables is looking to scale its generation capacity to over 30GW by the financial year 2027 from the current 13.5GW

In July 2022, BlackRock Real Assets acquired Vanguard Renewables for $700 million. Vanguard Renewables is a developer of organics-to-renewable energy projects based in Massachusetts, US and operates through two distinct business lines – Vanguard Organics and Vanguard AG

In June 2022, BlackRock Real Assets and KX Power formed a joint venture to develop, build and operate battery storage projects across the UK.The investment was made by the BlackRock Global Renewable Power III (GRP III) fund and will support the build out of up to 2GWh of battery storage assets across the UK

In August 2021, BlackRock Real Assets acquired 100% stake in National Renewable Solutions (NRS). It is a Minneapolis-based renewable energy developer focused on early-stage wind and solar projects in the US. BlackRock Real Assets would now operate the company’s project development pipeline of over 3.5GW of assets. NRS has developed more than 1GW of projects that are already in operation or would be entering the construction phase in 2021. The firm’s pipeline includes projects in the states of New Mexico, Colorado, Arizona and Nevada

Other Details

The firm provides portfolio management and consulting services to individuals, businesses, pension and profit-sharing plans, trusts, estates, and charitable organizations. It seeks to invest in the real estate, education, retail, energy, healthcare, materials, financial services, software and information technology sectors. The firm manages assets for clients in North and South America, Europe, Asia, Australia, the Middle East, and Africa. It has total assets under management of $10 trillion and operates through 89 offices in 38 countries

BlackRock Global Renewable Power Fund III is an infrastructure core fund managed by BlackRock. The fund is located in New York, New York and invests in Europe and Asia. The fund seeks to invest across the spectrum of climate infrastructure assets, with a focus on renewable power generation, and energy storage and distribution. The fund’s target size is $2.50 billion

111 Holdings, 2B Global Capital, 468 Capital, 3d investors, 4 Pines, A&E Investments, A.G. Hill Partners, Aberdeen Asset Management, abrdn Capital Partners, Abu Dhabi Investment Authority, Accel, Adage Capital Management, Addition, Allianz Global Investors, Advanced Power, Advantage Insurance, Affiliated Managers Group, Aisling Capital, Apollo Global Management, Baillie Gifford are some of the institutional investors in BlackRock’s funds

Source: Company Website, PRNEWSWIRE, Cleancapital, Reuters, Propertyfundsworld, nsenergybusiness, Bloomberg