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

Q&A: Omni Macro Fund Bullish On India, Watching China

Mar 4 2015 | 3:35pm ET

Omni Macro Fund was formed in 2007 by Stephen Rosen, previously a prop trader at...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Managing Diversification And Drawdowns In The “New Normal”

Mar 5 2015 | 2:42pm ET

In 2008-2009 diversification alone failed to provide adequate risk management for...

 

Editor's Note