BlackRock mandate surges 74%
BlackRock grew an Australian wealth fund mandate by 74% over two years, underscoring continued institutional demand for ESG, climate and alternatives overlays in APAC mandates. The move highlights where allocators are boosting sustainable allocations—and where consultants can position mandate design expertise. (bloomberg.com)
BlackRock now manages roughly A$7.5 billion of the Future Fund’s alternatives sleeve, making it the single largest manager within that asset class according to filings analyzed by Bloomberg. (bloomberg.com) The Future Fund’s total assets were reported at about A$267 billion in the same filings used for Bloomberg’s analysis, with the data current as of Dec. 31. (bloomberg.com) Those filings show alternatives account for roughly 15% of the Future Fund’s portfolio while private markets more broadly represent over 40% of the fund’s assets. (bloomberg.com) The documents also reveal a new A$1.1 billion allocation to London-based JJJ Capital Management, a hedge fund spun out of Louis Bacon’s firm in 2023, and Bloomberg reported that JJJ marketed a share class charging a 35% performance fee as it aimed to push assets above $6 billion. (bloomberg.com) Bloomberg notes the Future Fund declined to disclose underlying holdings within those manager agreements and said it “adjusts allocations and strategies” in line with overall risk settings. (bloomberg.com) The filings flag how BlackRock’s mix of passive/active products, private markets capabilities and its Aladdin technology can create opportunities to bundle mandates and secure fee arrangements at scale. (bloomberg.com)
