UniCredit has partnered with Blackstone, a global leader in alternative asset management, to distribute the Blackstone Private Equity Strategies Fund (BXPE) to its wealth clients in Italy.
BXPE is an actively managed semi-liquid open-ended alternative investment fund which provides qualified investors with broad exposure to the entire breadth of Blackstone’s private equity platform across a diversified portfolio of high-growth companies.
The strategy encompasses the asset manager’s investments across corporate private equity, tactical opportunities, secondaries, life sciences, and growth investing.
At the same time, the partnership seeks to lower the private equity market’s historically high barriers to entry by providing access to Blackstone’s diverse platform through a single fund, which aims to deliver robust returns through a flexible structure.
UniCredit’s Wealth Management clients in Italy can subscribe to BXPE from December 3, 2024.
Renato Miraglia, Head of Wealth Management at UniCredit Italy, said: “We are delighted to broaden our partnership with Blackstone, with BXPE providing our wealth clients with the opportunity to diversify their portfolios through direct exposure to private equity investments. We will continue to build our business around clients – striking the best possible partnerships to improve their options.”
Andrea Valeri, Chairman of Blackstone Italy, said: “We have already observed significant interest from individual investors in Italy looking to diversify their investment portfolios into asset classes that were once exclusive to institutional investors. By expanding our partnership with UniCredit to include private equity, we can further expand our distribution capacity via a trusted partner to meet this demand.”
Rashmi Madan, Head of EMEA for Blackstone Private Wealth Solutions, added: “This is the next step in the expansion of Private Wealth Solutions in Italy, as we continue to execute against our strategy to provide individual investors across Europe with greater access to institutional quality solutions. The fund leverages our extensive experience and expertise in private equity investing, allowing investors to access a diversified portfolio of high-growth companies while aiming to deliver attractive returns.”
