BlackRock registers for private fund management in China

File photo of a BlackRock building in New York June 12, 2009. REUTERS/Eric Thayer

US-based heavyweight asset manager BlackRock’s Shanghai arm has bagged a private fund management (PFM) registration in China which will now allow it to sell onshore investment products to Chinese institutional and high net worth investors.

The global investor’s wholly foreign-owned enterprise in Shanghai, BlackRock Investment Management (Shanghai) Co Ltd registered with Asset Management Association of China (AMAC), a statement said last week.

BlackRock’s entry into China’s private fund management segment follows a continuing trend where large investors like UBS, Fidelity International and Fullerton Fund Management secured access to the market for their China units.

“China is one of the most promising investment markets globally, and is a key component to BlackRock’s global strategy. The PFM registration is a significant milestone for BlackRock as we serve our fiduciary duty to deliver the best investment opportunities for our global and local clients,” said Ryan Stork, Chairman, Asia Pacific.

Having a presence in China for both onshore and offshore through various investment programs, BlackRock’s onshore China investment quotas under Qualified Foreign Institutional Investor (QFII) and Renminbi Qualified Foreign Institutional Investor (RQFII) schemes currently amount to approximately $9.5 billion as of November 2017.

Additional access to the China capital markets includes its participation in the Stock Connect programs, as well as the launch of two Qualified Domestic Limited Partnership (QDLP) products for Chinese high net worth investors.

With its global investments, the firm manages approximately $5.977 trillion in assets.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.