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BlackRock To Acquire Swiss Re's Private Equity Business

Tom Burroughes, Group Editor, 3 July 2012


US-listed asset management giant BlackRock has entered a definitive agreement to acquire Swiss Re Private Equity Partners, the European private equity and infrastructure fund of funds franchise of insurer and reinsurer Swiss Re.

Financial terms of the all-cash acquisition were not disclosed. The deal will create a private equity business with combined client commitments of $15 billion.

Operating from Zurich, Hong Kong, New York and Bratislava, SRPEP had $7.5 billion in total commitments at 31 May, including a significant commitment from Swiss Re as it invested alongside its clients.

Under the acquisition, SRPEP will be integrated with BlackRock’s existing private equity fund of funds group – BlackRock Private Equity Partners.

“The transaction extends BRPEP’s investment capabilities into infrastructure investing, expands its European and Asian footprint, and establishes the unit’s presence in Switzerland where BlackRock has a long-standing presence and history of service through employees in Zurich and Geneva,” BlackRock said.

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