Emirates NBD has announced a collaboration with BlackRock to introduce a new investment platform designed to provide investors in the Middle East with expanded access to the rapidly growing private markets.

The partnership was formalized through a memorandum of understanding, enabling Emirates NBD’s wealth management clients to tap into alternative investments, particularly within the private markets sector.

According to a statement released on Tuesday, this platform will offer Emirates NBD's wealth management clients opportunities to invest in private credit and alternative assets, utilizing BlackRock's alternative investment platform, which manages assets exceeding $450 billion.

The collaboration will commence with the launch of a series of products referred to as 'evergreen offerings,' which lack a specified termination date, thus providing investors with greater flexibility compared to closed-end funds.

The focus of these offerings will be on income and growth strategies concentrated solely within the United Arab Emirates.

The private credit sector in the Middle East has been experiencing increasing interest from international players, particularly through partnerships with sovereign wealth funds in the region, such as the Abu Dhabi Investment Authority.

This trend reflects a broader shift towards alternative financing solutions in the region.