BlackRock Preps New Portfolio, Will Invest In Hedge, PE Funds

Dec 10 2009 | 2:29pm ET

BlackRock is gearing up to launch a new series of investment funds that will allow retail investors access to hedge funds and private equity vehicles.
The new funds, part of the BlackRock Core Alternatives Portfolio, will “utilize securities selection and risk management to invest in a portfolio of alternative asset classes and other asset classes generally not highly correlated with the Standard & Poor's 500 Index,” states the firm in a regulatory filing submitted today.

The new Core Alternatives Portfolio--which is expected to launch in the first quarter--will serve as a feeder fund, investing most of its assets in the firm’s Master Fund. The Master Fund will, in turn, invest in the following strategies: hedge funds, private equity funds, real estate securities and funds, long/short equity and/or fixed income strategies, distressed debt security strategies, absolute return strategies and emerging market securities.

BlackRock Advisors will serve as the investment advisor to the new funds and BlackRock Financial Management as the sub-advisor.

The minimum initial subscription for interests in for each Core Alternatives feeder fund is $50,000, and minimum subsequent subscriptions are $25,000, according to the SEC filing

BlackRock is the world’s largest investment firm with $3.2 trillion in assets under management.

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