BlackRock Launches Two New Real Estate Investment Funds

Asset management giant BlackRock is launching a new real estate fund to invest in properties in the eurozone, as its global head of real estate points to changing allocations from investors.

The firm’s Real Assets division has reached a €280m first close on its open-ended Eurozone Core Property Fund, which will invest in office, retail and logistics properties in the eurozone and euro-pegged countries, reported IPE Real Assets.

The investment manager said the fund will implement a multi-strategy approach targeting reversionary assets, low vacancy assets, and assets in transitional markets, to seek to capitalise on emerging trends.

BlackRock said its pipeline of deals includes offices in Paris, Munich and Hamburg, as well as retail developments in Copenhagen.

In a related development, BlackRock also announced the launch of  the BlackRock Global Funds (BGF) Global Conservative Income fund, which is geared towards cautious investors that are looking for alternatives to low-yielding investments, according to the Professional Adviser.

The new strategy is managed by Michael Fredericks, Justin Christofel and Alex Shingler, who are all members of the multi-asset income investing team, which oversees €27 billion in assets.

The fund can invest in bonds, stocks, global real estate investment trusts, preferred stocks, mortgage-backed securities and equity-covered call options.