BlackRock, Inc. (NYSE: BLK) is reportedly looking to raise a US $10 billion private equity fund which would replicate the buy and hold long-term investment strategy employed by Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK.A).
It would be the first attempt by BlackRock to make direct investments.
The new fund, known internally as a “long-term private capital” vehicle, will seek capital commitments from sovereign wealth funds, pensions and other institutional investors.
The new fund could possibly be headed by André Bourbonnais who resigned as President & CEO of PSP Investments to “join BlackRock later this year to lead a new initiative within BlackRock Alternative Investors.”
Bourbonnais will work along with his former Canada Pension Plan Investment Board (CPPIB) boss, now Chairman of BlackRock Alternative Investors, Mark Wiseman. André Bourbonnais previously worked under Wiseman most recently as Senior Managing Director & Global Head of Private Investments before joining PSP Investments. From 2001 to 2004, Bourbonnais served as President of Capital Communications CDPQ, a subsidiary of Caisse de dépôt et placement du Québec (CPDQ).
photo credit: BlackRock
Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.
Latest posts by Ted Liu (see all)
- Onex and BPEA’s Clarivate Analytics to list on NYSE through Churchill QA - January 14, 2019
- Avicanna to go public on CSE - January 14, 2019
- IK’s LINXIS Group acquires Unifiller Systems from Hamilton Robinson - January 14, 2019