UNQUOTE

BlackRock holds final close for $630m fund

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BlackRock has held a final close on $630m for its co-investment private equity vehicle, Private Opportunities Fund III (POF III).

The predecessor vehicle POF II was a 2007-vintage fund and closed on $800m.

Investments
POF III seeks to build a portfolio diversified by geography, strategy and industry sector. The vehicle will focus on tactical themes including consolidation and roll-up plays, corporate carve-outs, special situations, growth opportunities in Asia and other emerging markets, family-owned and small-cap buyout and growth opportunities, and state-owned enterprises and privatisations.

Investors
Commitments to the fund came from public and private pension funds, insurers and foundations in North America and Europe.

People
BlackRock – Russell Steenberg (managing director).

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