BlackRock reveals why Europe needs project debt intermediaries

Author: Danielle Myles | Published: 10 Dec 2012

BlackRock’s decision to launch a London-based debt infrastructure unit is a precursor to more European institutional investors investing in project debt.

But the development has sparked debate as to whether the region’s insurers and pension funds will bypass intermediaries and follow the US model, by hiring in-house teams to manage their portfolios direct.

Recent reports reveal that 196 private debt funds are looking to raise $124 billion to invest in infrastructure globally. But insurers and pension funds are also building up their internal capabilities.

“Some European institutional investors will no doubt look to hire teams and make investments themselves,” Chris Wrenn, co-head of European infrastructure debt with BlackRock told IFLR. “But in the main, we think most will look to invest through an intermediary as a...



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