Emirates NBD and BlackRock announce platform for private markets access
Initial focus on private credit and multi-alternatives
Emirates NBD at the forefront of making private markets available to clients in the Middle East
Dubai, United Arab Emirates: Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region, has signed a Memorandum of Understanding (MoU) with BlackRock to create an investment platform that will provide the bank's wealth clients access to alternatives, specifically within private markets.
Traditionally only available to institutional investors in the region, private markets represent the fastest-growing segment of asset management, with alternative assets expected to reach USD 30 trillion by the end of the decade.
Emirates NBD Asset Management and BlackRock will launch an initial range of evergreen offerings targeting income and growth strategies on an exclusive basis for the UAE wealth market. Alongside these strategies, BlackRock will deploy its open architecture approach to support Emirates NBD Asset Management's plans to expand its private markets offering by providing additional services such as marketing, education, training and technology.
Through the Emirates NBD Asset Management platform, the long-term goal is to democratise the alternative assets space and offer Emirates NBD's clients across the Middle East access to alternatives across all major asset classes.
Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, commented: 'Innovation is a cornerstone at Emirates NBD, and we are pleased to partner with BlackRock to offer access to best-in-class, products in alternative markets through a dedicated platform while supporting the growing needs of investors in the region. We are deeply committed to creating value through our offerings and advancing the investment landscape in the UAE and the wider region, which has been experiencing a strong appetite in the last few years.'
Rachel Lord, Head of International at BlackRock, said: 'We are delighted to partner with Emirates NBD as they build out their private markets platform. Spurred by investor sentiment and facilitated by product innovation, technology, and regulatory advancements, wealth allocations to private markets are predicted to increase materially over the next five years. The combination of Emirates NBD's distribution capabilities and reach across the region, combined with BlackRock's expertise and global leadership in private markets, will be a compelling proposition for Middle Eastern investors.'
The private markets offerings will be based on BlackRock's Alternative Investments platform, which now exceeds USD 450 billion AUM and supported by over 1,000 personnel in more than 50 countries.
About Emirates NBD
Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As at 31st December 2024, total assets were AED 997 billion, (equivalent to approx. USD 271 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 848 branches and 4,601 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 3.87 billion.
Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region.
Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE's main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE's Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.
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