Swiss Re Deal To Double BlackRock's PE FoF Unit

In a bid to further scale up its private equity presence, BlackRock Inc., the world’s largest asset manager with $3.7 trillion under management, said that it planned to buy the private equity fund of funds unit of reinsurer Swiss Re. That unit, Swiss Re Private Equity Partners, managed about $7.5 billion in private equity commitments as of May. The combined group, BlackRock Private Equity Partners, will manage about $14 billion in private equity funds of funds.

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