BlackRock Impact Opportunities Fund Targets $1 Billion to Invest in Communities of Color Across the U.S.

BlackRock has secured more than $800 million in initial commitments toward its $1 billion target for the BlackRock Impact Opportunities Fund. This new fund, the first multi-alternatives strategy of its kind, is already beginning to invest in businesses and projects owned, led by, or serving people of color, with a particular focus on Black, Latinx, and Native American communities in the United States.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220511005327/en/

Seated (L to R): Joseph Acevedo, Ladell Robbins, Pam Chan, Douglas McNeely, Derrick Weatherspoon; Standing (L to R): Haley Schaffer, Susie Qian, Brian Mwarania, Aarthi Sowrirajan, Brian Grossman (Photo: BlackRock)

Edwin Conway, Global Head of BlackRock Alternative Investors, commented, “Black, Latinx, and Native American people face a number of systemic barriers in accessing the market and acquiring the capital necessary to drive economic growth and wealth creation in their communities. The BlackRock Impact Opportunities Fund aspires to change the way institutional capital flows to communities of color, and is just one step BlackRock is taking with our clients and partners to address this significant investment opportunity.”

Launched in 2021, this return-seeking fund looks to uncover compelling investment opportunities in undercapitalized companies and communities that are poised for growth. It takes a novel approach to social impact by making direct investments across private equity, private credit, infrastructure, real estate, and other niche asset classes – using a wide range of tools seeking to create collective wealth for the businesses and communities in which it invests, and to generate returns for the fund’s investors. The BlackRock Impact Opportunities Fund’s investments focus on themes such as housing, financial inclusion, education, healthcare, inclusive transition, and digital connectivity. To date, a broad investor base including leading corporations, pension funds, insurers, endowments, foundations, and family offices have committed to the debut fund.

The fund is led by a dedicated and experienced team of diverse portfolio managers that leverages BlackRock Alternative Investors’ $330 billion private markets platform, as well as the convening power of BlackRock, to source and execute investment opportunities.

Pam Chan, Chief Investment Officer and Global Head of BlackRock’s Alternative Solutions Group, commented, “To create collective wealth for these communities and our clients, we combine our singular impact objective – to improve economic outcomes for undercapitalized communities of color – with a flexible, multi-alternative investment approach. In doing so, we seek to deliver differentiated returns alongside impact and show that investors can do well and do good.”