(Adds the minimum investment on the platform)
By Trevor Hunnicutt
NEW YORK, Sept 29 BlackRock Inc, the
world's largest asset manager, will offer infrastructure funds
for the first time through independent financial advisers, it
said on Thursday.
Private infrastructure funds invest in massive projects like
renewable energy or gas pipelines, and split up the proceeds
among a group of investors. These funds usually require large
minimum investments that are beyond the means of most
BlackRock will offer the funds through Artivest, a startup
investment platform used by registered investment advisers to
access hedge funds, infrastructure funds and other alternative
investments. Through Artivest, qualified individuals can commit
smaller minimum amounts than required by many large financial
Individuals will need to invest at least $250,000 in a fund
on the platform.
Institutions such as pension funds and insurance funds buy
such alternatives to balance out portfolios heavily weighted
with stocks and bonds. But many of the alternatives require
investors to commit their cash for longer periods of time.
In July, BlackRock reported having $8 billion in total
capital for infrastructure projects.
Artivest's backers include KKR & Co, RRE Ventures,
Peter Thiel, Nyca Partners, Anthemis Group and FinTech
(Editing by Richard Chang and Matthew Lewis)