Emirates NBD, one of the leading banking groups in the Middle East, North Africa, and Türkiye (MENAT) region, has signed a Memorandum of Understanding (MoU) with BlackRock to establish a new investment platform. This initiative aims to provide the bank’s wealth clients with access to alternative investments, particularly within private markets—a sector traditionally reserved for institutional investors.
Private markets are currently the fastest-growing segment in asset management, with alternative assets projected to reach USD 30 trillion by the end of the decade. To tap into this expanding market, Emirates NBD Asset Management and BlackRock will introduce an exclusive range of evergreen investment offerings tailored for income and growth strategies within the UAE wealth market.
As part of the collaboration, BlackRock will leverage its open architecture approach to support Emirates NBD Asset Management’s plans to broaden its private markets portfolio. In addition to providing investment opportunities, BlackRock will offer marketing, education, training, and technology services to enhance the investment experience. Through this partnership, Emirates NBD aims to democratize access to alternative assets, enabling its clients across the Middle East to invest in private markets across various asset classes.
Speaking on the partnership, Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, said:
“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, emphasized the increasing demand for private market investments, stating:
“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 developed using BlackRock’s Alternative Investments platform, which now manages over USD 450 billion in assets and is supported by a team of more than 1,000 professionals across 50+ countries. This collaboration marks a significant step in expanding access to alternative investments for individual investors in the UAE and beyond.
