BlackRock bolsters its alternatives platform by acquiring ElmTree Funds
BlackRock, a global investment management corporation, has announced the acquisition of ElmTree Funds, a St. Louis-based private equity real estate firm. The integration of ElmTree into BlackRock's Private Financing Solutions (PFS) platform is expected to bolster BlackRock's ability to deliver long-term contractual income for investors.
The acquisition, which is particularly focused on expanding in the areas of private financing and real estate, sees ElmTree Funds specializing in commercial net-lease and build-to-suit assets, primarily focused on industrial properties. ElmTree has developed a portfolio of net-leased properties in U.S. primary and secondary markets, which are leased long-term to investment-grade tenants.
James Koman, founder of ElmTree, will continue to lead its investment strategies as part of BlackRock's platform. The deal aims at capturing opportunities created by structural shifts in the capital markets and further augments BlackRock's ability to provide diverse investment solutions.
ElmTree was advised by Berkshire Global Advisors, and Kirkland & Ellis provided legal services. On the other hand, Goldman Sachs served as financial advisor to HPS, while legal counsel to BlackRock was provided by Skadden and Fried Frank, with Sidley Austin also providing legal services.
In a statement, Scott Kapnick, Chairman of the PFS Executive Office, said, "The acquisition of ElmTree Funds is a strategic move for BlackRock as we continue to expand our alternative investments. We are excited to welcome the ElmTree team and look forward to working together to create value for our clients."
As of September 2025, there is no publicly available information on the exact date of a merger between ElmTree Funds and BlackRock. The integration of ElmTree into BlackRock's PFS platform will further highlight BlackRock's continued expansion in alternative investments.
For any important news that may be missed, reader convenience is provided with the contact information below:
BlackRock Inc. 55 East 52nd Street New York, NY 10055 United States
Phone: +1 212-908-2000 Website: www.blackrock.com
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