BlackRock Ties-up With Santander To Invest Up To $1 Bln Per Year In Private Asset Financing

(RTTNews) - BlackRock Inc. (BLK), an investment company, and Santander, a retail lender, announced on Thursday that they have inked an MoU through which funds managed by BlackRock will invest up to $1 billion a year in select project finance, energy finance, and infrastructure debt investment with Santander.

The deal follows an initial transaction whereby funds and accounts managed by BlackRock agreed to provide financing on a $600 million diversified portfolio of infrastructure credit from Santander.

Gary Shedlin, vice chairman, BlackRock, said: "We are pleased to expand our longstanding relationship with Santander through this agreement, which will provide long-term, flexible capital on a recurring basis to support the growth of its project finance franchise."