Emirates NBD teams up with BlackRock to launch an investment platform for wealthy investors in the UAE
Emirates NBD has agreed to work with BlackRock to create an investment platform. This platform will help its wealth management clients invest in private credit and other alternative assets.
Emirates NBD and BlackRock Partnership
Emirates NBD’s asset management division will launch investment strategies focused on income and growth for wealthy investors in the UAE. This was announced in a statement on Tuesday.
The partnership comes as private markets worldwide are expected to grow to $30 trillion by 2030.
BlackRock will help Emirates NBD expand its private market investment options. It will provide marketing support, investor education, training, and technology solutions. The goal is to make alternative investments more accessible to Emirates NBD’s clients in the Middle East.
“We are committed to improving our investment offerings in the UAE and the region, where demand has been growing,” said Marwan Hadi, group head of retail banking and wealth management at Emirates NBD.
BlackRock’s Private Market Growth
BlackRock’s private investment platform now manages over $450 billion in assets. In 2024, it spent about $28 billion to strengthen its private market investments.
BlackRock’s Expansion in the Middle East
Last year, Saudi Arabia’s Public Investment Fund (PIF) and BlackRock Saudi Arabia signed an agreement to create an investment platform in Riyadh. PIF plans to provide up to $5 billion in support.
They aim to set up BlackRock Riyadh Investment Management (BRIM), which will manage various investment strategies from Riyadh, backed by BlackRock’s global expertise.
Additionally, BlackRock’s Global Infrastructure Partners (GIP) recently announced plans to open an office in Doha, Qatar. This office will serve as a center for investments across the Middle East and North Africa (MENA).
GIP said this move will help it find more investment opportunities in the region.
Future Trends
Rachel Lord, BlackRock’s head of international business, said investor interest in private markets is expected to grow in the next five years.
Published: 26th March 2025
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