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Private infrastructure funds invest in massive projects like
renewable energy or gas pipeline projects, and split up the
proceeds among a group of investors. These funds usually require
large minimum investments that are beyond the means of most
individual buyers.
BlackRock will offer the funds through Artivest, a startup
investment platform used by registered investment advisers to
access hedge funds, infrastructure funds and other alternative
investments. Through Artivest, individuals can commit smaller
minimum amounts than required by many large financial
institutions.
Institutions such as pension funds and insurance funds buy such
alternatives to balance out portfolios heavily weighted with
stocks and bonds. But many of the alternatives require investors
to commit their cash for longer periods of time.
In July, BlackRock reported having $8 billion in total capital
for infrastructure projects.
Artivest's backers include KKR & Co <KKR.N>, RRE Ventures, Peter
Thiel, Nyca Partners, Anthemis Group and FinTech Collective.
(Reporting by Trevor Hunnicutt; Editing by Richard Chang)
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