Emirates NBD, a banking group operating in the Middle East, North Africa, and Türkiye (MENAT) region, has signed a MoU with BlackRock, a global investment management firm headquartered in New York, to establish an investment platform aimed at providing its wealth clients with access to alternative investments, specifically in private markets.
Private markets, traditionally accessible only to institutional investors in the region, represent a rapidly expanding segment within asset management.
Alternative assets are projected to reach US$30 trillion by the end of the decade.
Emirates NBD Asset Management and BlackRock plan to introduce an initial range of evergreen investment options focused on income and growth strategies, available exclusively to the UAE wealth market.
BlackRock will also apply its open architecture model to support Emirates NBD Asset Management’s expansion in private markets by offering services such as marketing, education, training, and technology solutions.
The long-term objective of this partnership is to broaden access to alternative investments across major asset classes through the Emirates NBD Asset Management platform.
Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, stated:
“We are pleased to collaborate with BlackRock to develop a dedicated platform that provides access to alternative investments, addressing the evolving needs of investors in the region.”
Rachel Lord, Head of International at BlackRock, said:
“Investor interest, product innovation, technology, and regulatory developments are expected to drive increased wealth allocations to private markets over the next five years. Emirates NBD’s regional distribution network, combined with BlackRock’s experience in private markets, presents a strong opportunity for investors in the Middle East.”
The private markets offerings will be based on BlackRock’s Alternative Investments platform, which currently has over US$450 billion in assets under management and a team of more than 1,000 personnel across 50 countries.
Featured image credit: Emirates NBD
