Reuters – BlackRock Inc plans to launch a portfolio that will let wealthy individual investors access hedge funds that have boosted pension funds’ and endowments’ returns, the company said in a regulatory filing on Thursday.
The fund, BlackRock Core Alternatives Portfolio, is expected to open in the first quarter of 2010 and will be managed by the industry giant’s alternative asset division.
BlackRock, which already offers a similar fund to British investors, is moving quickly in the United States to meet investors’ demands after their portfolios were battered during the financial crisis.
