NEW YORK & DUBLIN--(BUSINESS WIRE)--BlackRock, Inc. (NYSE: BLK) ("BlackRock") and NTR plc ("NTR") today announce the formation of a strategic relationship agreement to launch a new renewable power investment group. This comprises a number of key renewable power principals from NTR joining the BlackRock Alternative Investors (“BAI”) investment platform, which currently manages over US$110 billion of assets across a range of alternative investment strategies.
The new renewable power investment team will combine the international track-record of NTR in renewable power infrastructure development with the global fund management and distribution capabilities of BlackRock. As part of the strategic relationship between the two companies, NTR will provide market perspective and insights to the renewable power investment team and will also retain an economic interest in an identified set of products on the new investment platform. Current and past renewable energy infrastructure activities of NTR have included the development of over four gigawatts of wind and solar projects in the US and Europe.
The strategic arrangement sees NTR plc’s Chief Executive Officer, Jim Barry, take up the role of Chief Investment Officer of the renewable power investment team within BAI with responsibility for establishing and developing the platform.
“With global alternative industry assets under management now surpassing $5 trillion, we continue to witness increasing demand for innovative, value added alternative investments products from institutions, foundations and endowments, as well as high net worth investors and their representatives,” remarked Mr. Botein. “Renewable power represents a compelling investment proposition for investors as long-term trends point to an expansion in energy demand. Renewable power is expected to make up the lion’s share of relative growth in power generation methods over the next 25 years. The new renewable power investment platform offers a deep and experienced investment team, which is built around the core NTR renewable power expertise. This team will utilise BlackRock's global fund management services and BlackRock Solutions, our proprietary trading and risk management technology platform.”
Adding to Botein’s comments, Mr. Barry said, “We see this as an exciting and significant development for NTR as for some years now we have identified renewable power as being a highly attractive asset class. We are delighted to combine our expertise in this sector with the global capabilities and reach of BlackRock.”
About BlackRock
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At December 31, 2010, BlackRock’s AUM was $3.561 trillion. BlackRock offers products that span the risk spectrum to meet clients’ needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares® (exchange traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of December 31, 2010, the firm has approximately 9,100 employees in 25 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com.
About NTR plc
NTR plc, the international renewable energy group, builds and runs green energy and resource-sustaining businesses. Founded in 1978, NTR has evolved from being a developer and operator of infrastructure in Ireland to an international developer and operator of renewable energy (wind, solar and ethanol) and sustainable waste management businesses in the USA and Ireland. The Group employs over 2,000 people. For additional information, please visit the Company’s website at www.ntrplc.com
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