The Bestinver manager joins forces with BlackRock, the world’s largest asset manager, to bring new investment solutions in Private Equity (‘private equity’) closer to Spanish investors, as well as those from Portugal and Andorra.
According to a statement published this Thursday, the agreement will unite the capacities of Bestinver and BlackRock (the largest global manager by volume of assets and with a presence in Iberia since 1994), to provide diversified private equity investment solutions.
Bestinver is designing a first vehicle that will invest exclusively in a selection of BlackRock Private Equity funds.
“The alliance highlights the growing appetite of the market for alternative investment, within an environment that increasingly hosts more opportunities,” says the statement.
Black Rock predicted rate hikes
With all the attention on the upcoming ECB meeting, BlackRock believes that central banks still have some way to go. The world’s largest asset manager stands out from most of the analysis houses and believes that financing costs will continue to rise, at least in the euro area. This is what the head of the firm for Iberia, Javier García-Díaz, considers, who anticipates that the reference rate in the eurozone can climb to 4.75% as a result of inflation “that is not yet controlled”.
If confirmed, this means that the Frankfurt-based agency must execute three additional increases of 25 basis points each – the most likely scenario – or one of 50 and another of 25 points from the 4% to which it increased last June. On the other side of the Atlantic, they also expect the Federal Reserve to resume increases after last month’s brake to 5.75% versus the 5-5.25% range.
The objective, according to Díaz, is to take rates to sufficiently restrictive terrain until they enter a recession, which possibly “will be more acute” in the single currency area than in the United States. The difference with 2008 is that “central banks are not going to come to the rescue because they themselves have generated this problem.” “This situation will put pressure on risky assets, but it will present good opportunities in other parts of the market,” he remarked during the presentation of BlackRock’s semi-annual strategy.
