Launched in July 2023, the APP initiative focuses on better supporting client access to private market funds, providing asset managers like BlackRock with a unique opportunity to make their products available to Allfunds’ distribution network.
Furthermore, BlackRock will be able to widen access to its private markets offering to clients across EMEA and APAC, whilst also improving services for existing clients.
In addition, the combination of Allfunds’ technology and BlackRock’s investment expertise will streamline the struggles faced by wealth managers wanting to distribute private market investments to clients.
The collaboration will focus on the distribution of global private markets strategies and solutions, including the European Long Term Investment Funds (ELTIF).
Borja Largo, chief fund groups officer and head of Allfunds alternative solutions, said: “Allfunds and BlackRock have a history of collaboration, and we’re delighted they’re choosing to work with us to expand their alternative investment presence. The APP programme is an extension of our commitment to excellent service. Through this, we’re dedicated to providing our clients with our expertise and market knowledge to help them succeed in their distribution goals.”
Ivan Pascual, head of the EMEA iShares & wealth, BlackRock, commented: “We are thrilled to expand our longstanding and trusted relationship with Allfunds. This collaboration will allow us to deliver on our strategic priorities of broadening access to BlackRock’s private markets strategies, accelerating distribution in EMEA, and enabling our wealth management partners to scale their own distribution efforts.”
Fabio Osta, head of the alternatives specialists team in EMEA wealth, BlackRock, added: “We are pleased to join the APP initiative, driving forward our shared ambition of enabling a broader range of investors to access private markets. As allocations grow, alternative investments play an increasingly critical role in Wealth portfolios. The need for an approach that is scalable, fiduciary, and technology-enabled, has never been greater.”