Michael Baruch
The acquisition of the BlackRock single-fund position could presage opportunity for pensions with a lower cost of capital than typical secondaries buyers.
The investment firm's president has said it is evaluating opportunities for holding on to existing portfolio companies for longer.
HarbourVest Partners and GCM Grosvenor anchored the transaction, along with certain LPs from the existing fund.
The $91bn Brookfield Infrastructure Group plans to seed capital to support a third-party fundraise.