BlackRock Adds Swiss Re Private Equity Business

Jul 5 2012 | 12:09pm ET

BlackRock has agreed to buy Swiss Re's European private equity and infrastructure fund of funds businesses.

The world's largest asset manager will buy the US$7.5 billion unit for an undisclosed amount of cash. The deal is expected to close by the end of the third quarter.

Swiss Re will continue to hold the underlying investments in Swiss Re Private Equity Partners, and is in effect outsourcing the funds' management. It said it would continue to make private equity investments through SRPEP.

About 50 Swiss Re staffers, in New York; Zürich, Switzerland; and Bratislava, Slovakia, will be transferred to BlackRock Private Equity Partners. That business' chief, Russell Steenberg, will lead the combined unit, with SRPEP CEO Christian Hinze as his deputy.

In Depth

Caliber: Making the Most Out of Marketing and Public Relations

Oct 5 2016 | 7:09pm ET

It has never been harder for small to medium-sized alternative investment firms...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...