BlackRock, Inc. To Buy Swiss Re AG's Private Equity Business-Reuters

Reuters reported that BlackRock, Inc. is buying Swiss Re AG's European private equity and infrastructure fund of funds franchise. The terms of the all-cash deal, which also includes a strategic alternative investments deal with the reinsurer, were not being disclosed and it expected the deal to be completed by the end of the third quarter. BlackRock will integrate Swiss Re Private Equity Partners (SRPEP) AG, which had $7.5 billion in total commitments at May 31, with its own private equity fund of funds group - Blackrock Private Equity Partners (BRPEP).