Press Releases

BlackRock Long Term Private Capital Raises $3.44 Billion

BlackRock |Jan 04, 2021

NEW YORK – January 4, 2021 – BlackRock Long Term Private Capital (LTPC) today announced that it has closed on its initial offering period with $3.44 billion raised. More than 30 limited partners, including leading public and private pension funds, insurance companies, endowments, foundations and family offices from around the globe have committed to the fund. 

Launched in 2019, LTPC is BlackRock’s direct private equity strategy designed to deliver compounded private equity returns and better alignment with investors and investee companies. The strategy is predicated on asset selection that prioritizes proven, high-quality businesses and value creation through active collaboration with management teams. To date, LTPC has completed investments in Authentic Brands Group, a leading brand development company with a portfolio of iconic and world-renowned brands, and Creed, a luxury fragrance company.

“We are pleased to close the initial fundraise for BlackRock’s innovative direct private equity investing vehicle,” said Edwin Conway, Global Head of BlackRock Alternative Investors. “LTPC exemplifies BlackRock’s ability to organically develop our alternatives capabilities and deliver strategies to meet our clients’ evolving needs. As more investors look for exposure to private markets investment opportunities to complement their portfolio, LTPC offers a differentiated approach focused on achieving compounded private equity returns over time.”

“We built LTPC from the ground up in order to meet the needs of our clients as they seek exposure to high-quality private companies that will continue to create value over the long term,” said André Bourbonnais, Global Head of Long Term Private Capital. “We are pleased with the reception from the investor community in our initial offering period, which will allow us to execute our strategy at scale and continue partnering with best-in-class management teams.”

 

About BlackRock LTPC

BlackRock LTPC is an innovative private equity strategy focused on investing in high-quality businesses and value creation through active collaboration with management teams. The strategy’s flexible duration and prudent approach to leverage preserve optionality for growth and enable compounded capital appreciation. LTPC’s team of 17 professionals are based in New York and London and invest across North America and Western Europe. LTPC is backed by BlackRock, Inc., the world’s leading investment firm, which manages approximately $7.81 trillion on behalf of investors worldwide, including over $263 billion across alternative asset classes. Further information is available at www.blackrock.com.

Media Contact

Christopher Beattie
+1 (646) 231-8518
christopher.beattie@blackrock.com

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate