BlackRock eyeing Portuguese market
The world’s largest investment fund BlackRock is looking to invest heavily on the Iberian Peninsula in 2019.
BlackRock is looking for prime assets in both the Spanish and Portuguese markets via its €500 million pan-European fund.
In Portugal, BlackRock has a lot of interests from real estate to EDP (energy), BCP (banks) and Jerónimo Martins (supermarkets) with more than €2Bn invested in Portuguese companies quoted on the stock market in Portugal.
In Spain, the US fund manager has €18Bn invested in large companies quoted on the Spanish stock exchange.
BlackRock launched its pan-European fund with an investment capacity of around €500 million earmarked for property investments in the Eurozone and it is through this vehicle that the fund aims to complete some of its acquisitions on the Iberian peninsula.
The fund, which is based in New York, is “mainly interested in office and logistics properties and, to a lesser extent, in retail and other asset classes such as student accommodation” according to the Spanish economy daily Cinco Dias.
Created in 1988, BlackRock controls assets worth $6.3Bn (€5.5Bn). BlackRock expects global growth to slow in 2019 while seeing US growth stabilising at a much higher level than other regions, even as the effects of 2018s fiscal stimulus fade.