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BlackRock Impact Opportunities

First-of-its-kind multi-alternatives strategy that enables clients to accelerate positive economic outcomes and create collective wealth for undercapitalized racial and ethnic groups, with particular focus on Black, Latinx, and Native American communities in the United States.

About BlackRock Impact Opportunities ("BIO")

Launched in 2021, BIO is a return-seeking strategy that looks to uncover compelling investment opportunities in undercapitalized companies and communities. BIO aspires to change how institutional capital flows to communities of color by collaborating with mission-aligned partners to accelerate the growth of high potential companies and projects.

Quotation start

BlackRock’s purpose is to help more and more people experience financial well-being. We designed BIO to pursue opportunities that have historically been undercapitalized and, as a result, may offer differentiated sources of return. We are committed to being part of the solution, and a force for change – on behalf of our clients, our employees, our shareholders, and our communities.

Larry Fink
Larry Fink
CEO BlackRock

Portfolio

The BIO strategy takes a dynamic approach to addressing the issue of racial inequity through direct investments across alternative asset classes - Private Equity, Private Credit, Real Assets, and other niche private markets strategies and across sectors.​

Acelero & BlackRock Impact Opportunities

Acelero, an early childhood education platform, supports the growth and development of head start education centers across the United States. Since 2001, the company has been transforming childhood education and producing break-through learning gains to close the achievement gap for children of color.

Macro
MACRO

MACRO

Award winning, diverse media company

Industry: Media & Entertainment
Headquarters: Los Angeles, CA
Invested: 2022
Impact Theme(s)​: Inclusive Media, Financial Inclusion
Asset Class: Private Equity

Read the press release

Acelero
Acelero​

Acelero​

Leading early childhood education platform​

Industry​: Education
Headquarters​: New York, NY
Invested​: 2022
Impact Theme(s)​: Education
Asset Class​: Private Equity

Read the press release

Synergy
Synergy

Synergy Infrastructure​

Diverse-owned & - led infrastructure solutions company​

Industry​: Industrial Machinery
Headquarters​: Tampa, FL
Invested​: 2022
Impact Theme(s)​: Financial Inclusion
Asset Class​: Private Equity

Ethos
Harvest at Marmalade​

Harvest at Marmalade​

Multifamily asset alongside diverse-owned Ethos Real Estate​

Industry​: Commercial Real Estate
Headquarters​: Manhattan Beach, CA
Invested​: 2022
Impact Theme(s)​: Financial Inclusion
Asset Class​: Real Estate

Read the press release

Retro Fitness
Retro Fitness

Retro Fitness​ Franchises

High-value, low-price fitness centers in diverse communities

Industry​: Consumer Fitness
Areas of Operation: Texas, Florida, New York
Invested​: 2022
Impact Theme(s)​: Healthcare, Financial Inclusion
Asset Class​: Private Equity

Read the press release

BRP
Arboretum

Arboretum at Farmingville​

Multifamily asset alongside diverse-owned BRP Companies​

Industry​: Commercial Real Estate
Headquarters​: New York, NY
Invested​: 2022
Impact Theme(s)​: Financial Inclusion
Asset Class​: Real Estate

Read the press release

Tricolor
Tricolor Auto Group

Tricolor Auto Group​

Auto finance company focused on underbanked communities​

Industry​: Automobiles Retail
Headquarters​: Dallas, TX
Invested​: 2021
Impact Theme(s)​: Financial Inclusion
Asset Class​: Private Credit

Read the press release​​

Investment Strategy​

BIO aims to accelerate positive economic outcomes for undercapitalized racial and ethnic groups in the United States. We pursue opportunities that have historically been undercapitalized and, as a result, may offer differentiated sources of return. We combine a singular impact objective with a flexible, multi-alternative investment approach.​

Investment alternative

Investment criteria

BIO focuses on direct investments in companies and/or projects. We combine a singular impact objective with a flexible, multi-alternative investment approach.

 

Investment Size Asset Class Return Target Geography
Up to $100 million
Smaller investments may be contemplated on a programmatic basis.
Multi-Alternative
Private Equity, Private Credit, Real Estate, Infrastructure, and Niche/Other.
Market Returns
Expected risk-adjusted return will be at least commensurate with market returns.
U.S. Investments Only

Impact criteria

Investments must meet at least one of the below initial screens to be considered for BIO. An impact thesis that is intentional, material, additional, and measurable is also required for each prospective investment to proceed through diligence.

Criterion 1 Criterion 2
Businesses/projects founded, or led, by people of color Businesses/projects that serve communities of color

The strategy focuses on a diverse range of themes that align with both impact and investment objectives. These core themes are not exclusive, and the strategy will consider other expressions of impact.

Impact criteria

Impact​

Read our 2022 Impact Report

BIO’s singular impact objective is to accelerate positive economic outcomes and create collective wealth for undercapitalized racial and ethnic groups. We utilize the Impact Management Project (“IMP”)’s Dimensions of Impact framework to evaluate whether and how each proposed investment advances BIO’s impact objective.​

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What?
What outcome is the investment contributing to?
People Icon
Who?
Which stakeholders are experiencing the outcome? How are they undercapitalized in relation to the outcome?
Ratio percent Icon
How Much?​
How many stakeholders experienced the outcome? What was the degree of change?
Measure Icon
Contribution​
Did the investment result in outcomes that were likely better than what would happen otherwise?
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Risk​
What is the likelihood the impact will be different than expected?​
  • The BIO investment team applies the IMP framework to articulate and document how the proposed investment achieves the BIO impact objective, in a way that is intentional, material, additional, and measurable.
  • For every investment, we identify key performance indicators (KPIs) that correspond to the impact objective, and measure and track these KPIs over the life of BIO’s investments. In selecting KPIs, we consult with established measurement frameworks such as GIIN IRIS+, or other relevant KPIs - including proprietary ones - to quantify and report on the impact.
  • Finally, we identify and report when there is explicit alignment with global, industry recognized impact reporting frameworks.
group 3

We are all in

At BlackRock, not only are we committed to our clients’ needs but also to the communities in which we operate. As investors, fiduciaries, and members of society, we believe it is our duty to combine our investment expertise with this focus to generate long-term prosperity.​ We are committed to being part of the solution. Reach out to learn more.
blackrock impact opportunity fund

Team

Ladell Robbins​
Managing Director, Head of BIO
Brian Grossman​
Managing Director, Head of Business Development & Product Strategy
Matthew Widham
Managing Director, Chief Operating Officer
Joseph Acevedo​
Managing Director, Senior Portfolio Manager​
Karega Butler
Director, Senior Portfolio Manager
Aarthi Sowrirajan​
Director, Senior Portfolio Manager
Derrick Weatherspoon​
Director, Senior Portfolio Manager​
Diana Yang
Director, Senior Product Strategist
Shreya Ghel
Vice President, Product Strategist
Brian Mwarania
Vice President, Portfolio Manager​
Susie Qian​
Vice President, Portfolio Manager​
Yusof Daoud
Associate, Portfolio Management
Josie Williams
Analyst, Product Strategy

News​