BlackRock & Emirates NBD: An Elite Pass to Middle East Private Wealth

BlackRock has teamed up with Emirates NBD, a leading Dubai-based lender, to create a new platform to provide Middle Eastern investors with improved access to private markets. This alliance aims to meet the growing demand for additional assets and private credit in the region.

The new platform will leverage BlackRock’s Alternative Investments platform, which currently manages over $450 billion in assets. It will offer customized investment opportunities specifically designed for Emirates NBD’s wealth management clients.

Through this collaboration, Emirates NBD’s wealth management clients will gain access to a diverse selection of investment products. These products are intended to generate both consistent income and long-term growth.

According to the announcement made on Tuesday, the platform will feature “evergreen products.” Unlike traditional closed-end funds, evergreen products provide investors with more flexibility regarding how long they invest and how easily they can access their funds.

Which Region Will Benefit Most from This Partnership?

The platform’s offerings will primarily focus on the United Arab Emirates, emphasizing investment products that cater to the specific needs and preferences of local investors.

This strategic move aligns with the increasing popularity of private credit among Middle Eastern wealth funds.

Why Is Private Credit Gaining Traction in the Middle East?

The partnership between BlackRock and Emirates NBD comes as global players increasingly focus on private credit opportunities in the Middle East.

Prominent wealth funds in the region, such as Mubadala Investment Co., Abu Dhabi Investment Authority, and Saudi Arabia’s Public Investment Fund, are already active participants in this asset class.

Mubadala’s deputy CEO recently highlighted private credit as the best-performing asset class for three consecutive years, pointing out its growing appeal in the region.

What Expertise Does BlackRock Bring to the Table?

BlackRock’s experience and resources in managing alternative investments will be crucial in supporting this expansion.

The firm’s Alternative Investments platform boasts a team of over 1,000 professionals operating across more than 50 countries, providing the necessary expertise to navigate the complexities of private markets.

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What Drove BlackRock and Emirates NBD to Collaborate?

Marwan Hadi, the Group Head of Retail Banking and Wealth Management at Emirates NBD, stated that innovation and client needs were major factors in the partnership with BlackRock.

He expressed his satisfaction in working with BlackRock to provide access to top-tier products in alternative markets via a dedicated platform, effectively addressing the increasing demands of investors in the region.

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Rachel Lord, Head of International at BlackRock, echoed Hadi’s sentiments, pointing out that allocations to private markets are expected to increase significantly over the next five years, making this partnership particularly timely and strategic.