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1y | 3y | 5y | 10y | Incept. | |
---|---|---|---|---|---|
Total Return (%) | 8.28 | 6.58 | - | - | 5.41 |
YTD | 1m | 3m | 1y | 3y | 5y | 10y | Incept. | |
---|---|---|---|---|---|---|---|---|
Total Return (%) | 8.28 | -0.44 | -1.01 | 8.28 | 21.06 | - | - | 22.39 |
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Total Return (%) | - | - | 0.40 | 11.37 | 8.28 |
Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.
Ms. Lynn Baranski, Managing Director, is Global Co-Head and Chief Investment Officer of Private Equity Partners (“PEP”) within BlackRock's Equity Private Markets group.
Ms. Lynn Baranski, Managing Director, is Global Co-Head and Chief Investment Officer of Private Equity Partners (“PEP”) within BlackRock's Equity Private Markets group. Ms. Baranski chairs PEP's Internal Investment Committee and Exit committee and is a member of PEP's Executive Investment Committee. Ms. Baranski is also a member of the investment committees of the Secondary Liquidity Solutions Funds I and II, the Global Credit Opportunity Fund II, and the BlackRock Impact Opportunity Fund. Lastly, Ms. Baranski serves on the Executive Oversight Committee of the Direct Private Opportunities Group. Overall, Ms. Baranski has over 33 years of private equity and related experience.
Ms. Baranski's service with the firm dates back to 1997, including her years with Merrill Lynch Investment Managers (“MLIM”), which merged with BlackRock in 2006. Prior to her current leadership role, Ms. Baranski was PEP's Global Head of Investments with primary responsibility for all aspects of PEP's investment process including sourcing, due diligence, and monitoring as well as portfolio construction and strategy. Before joining PEP in 2001, she worked as a high yield portfolio manager and research analyst in the fixed income division. She joined MLIM from Bank of America Securities, Inc. (formerly NationsBank), where she was a member of the Financial Sponsor Advisory group.
Ms. Baranski currently serves on the advisory boards of certain funds managed by Certares LLC, Black Diamond, Tailwind Capital Partners, 1315 Capital and Z Capital Partners. Additionally, she is currently on the board Internova Group and Guardian Alarm. She previously participated on the boards of Juweel Holdings, Amex Global Business Travel, TowerCo, Canbriam Energy, and Evenflo.
Jeff Cucunato is the lead portfolio manager for the Multi-Strategy Credit platform within BlackRock's Global Credit group.
Jeff Cucunato is the lead portfolio manager for the Multi-Strategy Credit platform within BlackRock's Global Credit group. Mr. Cucunato is responsible for managing portfolios that allocate to opportunities across the global credit markets. He also chairs the credit platform's Investment Strategy Group, which focuses on evaluating investment opportunities across global investment grade, high yield, bank loans and illiquid credit.
Previously, Mr. Cucunato was Head of Investment Grade Credit where he led the firm's U.S. fundamental investment grade credit effort for over 10 years and spent 15 years as the lead portfolio manager for BlackRock's investment grade credit and long duration portfolios. He began his investment career in 1997 focusing on interest rate products, including management of BlackRock's inflation-linked bond portfolios. Mr. Cucunato joined BlackRock in 1995 as an analyst in the Institutional Client Business group, working with international clients and alternative investments.
Mr. Cucunato earned a BA degree, cum laude, in history from Dartmouth College in 1995.
Mr. Arslan Mian, Managing Director, heads the Americas Investment team at BlackRock Private Equity Partners (“PEP”) within BlackRock Equity Private Markets.
Mr. Arslan Mian, Managing Director, heads the Americas Investment team at BlackRock Private Equity Partners (“PEP”) within BlackRock Equity Private Markets. He is a member of PEP's Executive Committee, Investment Committee, Portfolio Construction & Allocation Committee, Valuation Committee, and Finance Committee. He is also a member of BlackRock’s Transition Capital Investment Committee.
Mr. Mian's service with the firm dates back to 2005, including his years with Merrill Lynch Investment Managers (“MLIM”), which merged with BlackRock in 2006. He was a Principal at MLIM at the time of the merger. Prior to joining MLIM in 2005, he was a Vice President with the Private Equity Group at UBS Capital Americas, LLC. ($1.5B middle market fund, focused on Americas), where he oversaw all stages of the private equity investment and post-investment value creation processes and had board responsibilities for a few portfolio companies. Earlier, Mr. Mian was a Vice President with TD Securities Financial Sponsors Group. Prior to that, he was with UBS Investment Bank in the Financial Sponsors & Leveraged Finance Group in New York and M&A Group in London, UK.
Mr. Mian currently serves on the advisory boards of several private equity funds including AE Industrials, BDCM, CD&R, Greycroft, and Mason Wells. Mr. Mian also serves on the Board of Directors of the following portfolio companies: 365 Datacenters, Grupo Axo, Triarc, Serena and Lily, HealthChannels, and Kellstrom Industries. Previously he served on the Boards of: Alpenglow Rail, Aim Aerospace, Coating Excellence, Inc., J.D. Power, Sabre Industries, The Ritedose Corporation, and Independent Insurance Investments, Inc.
Mr. Mian earned an MBA from the Said Business School at the University of Oxford, UK in 1997, where he was a Rhodes Scholar. He also earned a BEng, with distinction, in Avionics from N.E.D. University, College of Aeronautical Engineering, Pakistan in 1994.
Mr. John Seeg, Managing Director, is Global Co-Head of BlackRock Private Equity Partners (“PEP”) within Equity Private Markets (“EPM”). With over 28 years of Private Equity experience, he is a member of BlackRock's Global Operating Committee.
Mr. John Seeg, Managing Director, is Global Co-Head of BlackRock Private Equity Partners (“PEP”) within Equity Private Markets (“EPM”). With over 28 years of Private Equity experience, he is a member of BlackRock's Global Operating Committee, EPM's Executive Committee and PEP's Management Committee, Investment Committee and Executive Investment Committee.
Mr. Seeg’s service with the firm dates back to 1999, including his years with Merrill Lynch Investment Managers (“MLIM”) which merged with BlackRock in 2006. During his tenure at PEP, Mr. Seeg was the head of PEP’s London office and responsible for private equity investments across EMEA as well as regional business development. He was also previously a member of the EMEA Executive Committee for BlackRock Alternatives. From 2003 until 2007, Mr. Seeg was based in the US as a principal on the investment team of PEP and also managed the team's product strategy and investor relations activities in the Americas.
Before joining MLIM in 2003, Mr. Seeg was a Vice President at Merrill Lynch where he held several roles in wealth management, corporate strategy, and venture capital investments. Prior to joining Merrill Lynch in 1999, Mr. Seeg was an Associate at Donaldson, Lufkin & Jenrette (“DLJ”) in global equities research.
Mr. Seeg earned a BS in Economics from the Wharton School at the University of Pennsylvania. He also attended the Tuck School of Business at Dartmouth College, where he completed the Advanced Management Program.
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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares Fund and BlackRock Fund prospectus pages. Read the prospectus carefully before investing.
The information for these funds is provided for informational purposes only and does not constitute a solicitation of an offer to buy or sell Fund shares.
Performance results reflect past performance and are no guarantee of future results. Current performance may be lower or higher than the performance data quoted. All returns assume reinvestment of all dividends. The market value and net asset value (NAV) of a fund's shares will fluctuate with market conditions.
The Fund's investments in private companies is subject to a number of risks. Private companies are generally not subject to SEC reporting requirements, are not required to maintain their accounting records in accordance with generally accepted accounting principles, and are not required to maintain effective internal controls over financial reporting. As a result, the Sub-Advisor may not have timely or accurate information about the business, financial condition and results of operations of the private companies in which the Fund invests. There is risk that the Fund may invest on the basis of incomplete or inaccurate information, which may adversely affect the Fund’s investment performance. Private companies in which the Fund may invest may have limited financial resources, shorter operating histories, more asset concentration risk, narrower product lines and smaller market shares than larger businesses, which tend to render such private companies more vulnerable to competitors’ actions and market conditions, as well as general economic downturns. These companies generally have less predictable operating results, may from time to time be parties to litigation, may be engaged in rapidly changing businesses with products subject to a substantial risk of obsolescence, and may require substantial additional capital to support their operations, finance expansion or maintain their competitive position. These companies may have difficulty accessing the capital markets to meet future capital needs, which may limit their ability to grow or to repay their outstanding indebtedness upon maturity. In addition, the Fund’s investment also may be structured as pay-in-kind securities with minimal or no cash interest or dividends until the company meets certain growth and liquidity objectives.
Typically, investments in private companies are in restricted securities that are not traded in public markets and subject to substantial holding periods, so that the Fund may not be able to resell some of its holdings for extended periods, which may be several years. There can be no assurance that the Fund will be able to realize the value of private company investments in a timely manner.
The Fund’s investments in interests in professionally managed private equity funds (“Portfolio Funds”) are subject to a number of risks, including:
Portfolio Fund interests held by the Fund are expected to be illiquid, their marketability may be restricted and the realization of investments from them may take considerable time and/or be costly.
Portfolio Fund interests are ordinarily valued based upon valuations provided by the Portfolio Fund manager(s), which may be received on a delayed basis. Certain securities in which the Portfolio Funds invest may not have a readily ascertainable market price and are fair valued by the Portfolio Fund Managers. A Portfolio Fund Manager may face a conflict of interest in valuing such securities since their values may have an impact on the Portfolio Fund Manager’s compensation. The Fund intends to invest in Portfolio Funds that require an annual independent audit of their financial statements, which includes testing of portfolio valuations made by the Portfolio Fund Manager. BlackRock Capital Investment Advisors, LLC (the “Sub-Advisor”) will review and perform due diligence on the valuation procedures used by each Portfolio Fund Manager and monitor the returns provided by the Portfolio Funds. However, neither the Sub-Advisor nor the Board is able to confirm the accuracy of valuations provided by Portfolio Fund Managers. Inaccurate valuations provided by Portfolio Funds could materially adversely affect the value of shares.
The Fund may pay asset-based fees and performance-based fees in respect of its interests in Portfolio Funds. Such fees and performance-based compensation are in addition to the fees charged to the Fund by BlackRock Advisors, LLC. Moreover, an investor in the Fund will indirectly bear a proportionate share of the expenses of the Portfolio Funds, in addition to its proportionate share of the expenses of the Fund. Thus, an investor in the Fund may be subject to higher operating expenses than if the investor invested in the Portfolio Funds directly. Investors could avoid the additional level of fees and expenses of the Fund by investing directly with the Portfolio Funds, although access to many Portfolio Funds may be limited or unavailable, and may not be permitted for investors who do not meet the substantial minimum net worth and other criteria for investment in Portfolio Funds.
Performance-based fees charged by Portfolio Fund Managers may create incentives for the Portfolio Fund Managers to make risky investments, and may be payable by the Fund to a Portfolio Fund Manager based on a Portfolio Fund’s positive returns even if the Fund’s overall returns are negative.
Portfolio Funds generally are not registered as investment companies under the Investment Company Act of 1940, as amended (the "Investment Company Act"); therefore, the Fund, as an investor in Portfolio Funds, will not have the benefit of the protections afforded by the Investment Company Act. Portfolio Fund Managers may not be registered as investment advisers under the Investment Advisers Act of 1940 (the “Advisers Act”), in which case the Fund, as an investor in Portfolio Funds managed by such Portfolio Fund Managers, will not have the benefit of certain of the protections afforded by the Advisers Act.
Some of Portfolio Funds in which the Fund will invest may have only limited operating histories.
There is a risk that the Fund may be precluded from acquiring interests in certain Portfolio Funds due to regulatory implications under the Investment Company Act or other laws, rules and regulations or may be limited in the amount it can invest in voting securities of Portfolio Funds. For example, the Fund is required to disclose the names and current fair market value of its investments in Portfolio Funds on a periodic basis, and a Portfolio Fund may object to public disclosure concerning the Fund’s investment and the valuation of such investment. Similarly, because of the Sub-Advisor’s actual and potential fiduciary duties to its current and future clients, the Sub-Advisor may limit the Fund’s ability to access or invest in certain Portfolio Funds. For example, the Sub-Advisor may believe that the Fund’s disclosure obligations or other regulatory implications under the Investment Company Act may adversely affect the ability of such other clients to access, or invest in, a Portfolio Fund. Furthermore, an investment by the Fund could cause the Fund and other funds managed or sub-advised by the Sub-Advisor to become affiliated persons of a Portfolio Fund under the Investment Company Act and prevent them from engaging in certain transactions. The Fund may forego certain voting rights with respect to the Portfolio Funds in an effort to avoid “affiliated person” status under the Investment Company Act. The Sub-Advisor may also refrain from including a Portfolio Fund in the Fund’s portfolio in order to address adverse regulatory implications that would arise under the Investment Company Act for the Fund and the Sub-Advisor’s other clients if such an investment was made. In addition, the Fund’s ability to invest may be affected by considerations under other laws, rules or regulations. Such regulatory restrictions, including those arising under the Investment Company Act, may cause the Fund to invest in different Portfolio Funds than other clients of the Sub-Advisor.
Although the Sub-Advisor will seek to receive detailed information from each Portfolio Fund regarding its historical performance and business strategy, in most cases the Sub-Advisor will have little or no means of independently verifying this information. A Portfolio Fund may use proprietary investment strategies that are not fully disclosed to the Sub-Advisor, which may involve risks under some market conditions that are not anticipated by the Sub-Advisor.
The Fund may receive from a Portfolio Fund an in-kind distribution of securities that may be illiquid or difficult to value and difficult to dispose of.
The Fund may be required to make incremental contributions pursuant to capital calls issued from time to time by a Portfolio Fund. The Fund expects to allocate a portion of its Managed Assets to the Income-Focused Sleeve in part for the purpose of funding capital calls.
If the Fund fails to satisfy capital calls to a Portfolio Fund in a timely manner then, generally, it will be subject to significant penalties, including the complete forfeiture of the Fund’s investment in the Portfolio Fund. Any failure by the Fund to make timely capital contributions may (i) impair the ability of the Fund to pursue its investment program, (ii) force the Fund to borrow, (iii) cause the Fund to be subject to certain penalties from the Portfolio Funds, or (iv) otherwise impair the value of the Fund’s investments (including the devaluation of the Fund).
A Portfolio Fund Manager may focus on a particular industry or sector, which may subject the Portfolio Fund, and thus the Fund, to greater risk and volatility than if investments had been made in issuers in a broader range of industries. Likewise, a Portfolio Fund Manager may focus on a particular country or geographic region, which may subject the Portfolio Fund, and thus the Fund, to greater risk and volatility than if investments had been made in issuers in a broader range of geographic regions.
Portfolio Funds in which the Fund will acquire an interest may pursue different strategies or establish positions in different geographic regions or industries that, depending on market conditions, could experience offsetting returns.
Although the Fund will be an investor in the Portfolio Funds, investors in the Fund will not themselves be equity holders of the Portfolio Funds and will not be entitled to enforce any rights directly against the Portfolio Funds or the Portfolio Fund Managers or assert claims directly against the Portfolio Funds, the Portfolio Fund Managers or their respective affiliates. Shareholders will have no right to receive the information issued by the Portfolio Funds that may be available to the Fund as an investor in the Portfolio Funds.
There is no assurance that the Fund will achieve its investment objective. The Fund is subject to numerous risks, including investment risks. The Fund is not a complete investment program and you may lose money investing in the Fund. An investment in the Fund may not be appropriate for all investors.
The amounts and sources of distributions reported in any notices are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to change based on tax regulations. The Fund will send a Form 1099-DIV for the calendar year that will tell how to report these distributions for federal income tax purposes.
Yields are based on income earned for the period cited and on the Fund's NAV at the end of the end of the period.
Some investors may be subject to the alternative minimum tax (AMT).
Some BlackRock funds make distributions of ordinary income and capital gains at calendar year end. Those distributions temporarily cause extraordinarily high yields. There is no assurance that a fund will repeat that yield in the future. Subsequent distributions that do not include ordinary income or capital gains in the form of dividends will likely be lower.
The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).
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Review the MSCI methodology behind the Sustainability Characteristics and Business Involvement metrics: 1ESG Fund Ratings; 2Index Carbon Footprint Metrics; 3Business Involvement Screening Research; 4ESG Screened Index Methodology; 5ESG Controversies; 6MSCI Implied Temperature Rise
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