BlackRock Establishes Renewable Power Investment Capability; Announces Strategic Relationship Agreement with NTR plc


February 28 2011

New York; Dublin, February 28, 2011: BlackRock, Inc. (NYSE: BLK) ("BlackRock") and NTR plc ("NTR") today announce the formation of a strategic relationship agreement to launch a new renewable power investment group.  This comprises a number of key renewable power principals from NTR joining the BlackRock Alternative Investors (“BAI”) investment platform, which currently manages over US$110 billion of assets across a range of alternative investment strategies.

The new renewable power investment team will combine the international track-record of NTR in renewable power infrastructure development with the global fund management and distribution capabilities of BlackRock.  As part of the strategic relationship between the two companies, NTR will provide market perspective and insights to the renewable power investment team and will also retain an economic interest in an identified set of products on the new investment platform.  Current and past renewable energy infrastructure activities of NTR have included the development of over four gigawatts of wind and solar projects in the US and Europe.

The strategic arrangement sees NTR plc’s Chief Executive Officer, Jim Barry, take up the role of Chief Investment Officer of the renewable power investment team within BAI with responsibility for establishing and developing the platform.  

“With global alternative industry assets under management now surpassing $5 trillion, we continue to witness increasing demand for innovative, value added alternative investments products from institutions, foundations and endowments, as well as high net worth investors and their representatives,” remarked Mr. Botein.  “Renewable power represents a compelling investment proposition for investors as long-term trends point to an expansion in energy demand.  Renewable power is expected to make up the lion’s share of relative growth in power generation methods over the next 25 years.  The new renewable power investment platform offers a deep and experienced investment team, which is built around the core NTR renewable power expertise. This team will utilise BlackRock's global fund management services and BlackRock Solutions, our proprietary trading and risk management technology platform.”

Adding to Botein’s comments, Mr. Barry said, “We see this as an exciting and significant development for NTR as for some years now we have identified renewable power as being a highly attractive asset class. We are delighted to combine our expertise in this sector with the global capabilities and reach of BlackRock.”

 

AboutBlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide.  At December 31, 2010, BlackRock’s AUM was $3.561 trillion.  BlackRock offers products that span the risk spectrum to meet clients’ needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds,iShares® (exchange traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®.  Headquartered in New York City, as of December 31, 2010, the firm has approximately 9,100 employees in 25 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa.  For additional information, please visit the Company's website at www.blackrock.com.

 

About NTR plc

NTR plc, the international renewable energy group, builds and runs green energy and resource-sustaining businesses. Founded in 1978, NTR has evolved from being a developer and operator of infrastructure in Ireland to an international developer and operator of renewable energy (wind, solar and ethanol) and sustainable waste management businesses in the USA and Ireland. The Group employs over 2,000 people. For additional information, please visit the Company’s website at www.ntrplc.com

 

Forward-Looking Statements

This report, and other statements that BlackRock may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to BlackRock’s future financial or business performance, strategies or expectations.  Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions.

BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time.  Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements.  Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

In addition to risk factors previously disclosed in BlackRock’s Securities and Exchange Commission (“SEC”) reports and those identified elsewhere in this report the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: (1) the introduction, withdrawal, success and timing of business initiatives and strategies; (2) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for products or services or in the value of assets under management; (3) the relative and absolute investment performance of BlackRock’s investment products; (4) the impact of increased competition; (5) the impact of capital improvement projects; (6) the impact of future acquisitions or divestitures; (7) the unfavorable resolution of legal proceedings; (8) the extent and timing of any share repurchases; (9) the impact, extent and timing of technological changes and the adequacy of intellectual property protection; (10) the impact of legislative and regulatory actions and reforms, including the recently approved Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to BlackRock, Barclays Bank PLC, Bank of America Corporation, Merrill Lynch & Co., Inc. or The PNC Financial Services Group, Inc.; (11) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital  markets, specific industries or BlackRock; (12) the ability to attract and retain highly talented professionals; (13) fluctuations in the carrying value of BlackRock’s economic investments; (14) the impact of changes to tax legislation and, generally, the tax position of the Company; (15) BlackRock’s success in maintaining the distribution of its products; (16) the impact of BlackRock electing to provide support to its products from time to time; (17) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions; and (18) the ability of BlackRock to integrate the operations of Barclays Global Investors.

BlackRock's Annual Reports on Form 10-K and BlackRock's subsequent filings with the SEC, accessible on the SEC's website at http://www.sec.gov and on BlackRock’s website at http://www.blackrock.com, discuss these factors in more detail and identify additional factors that can affect forward-looking statements. The information contained on our website is not a part of this press release.

©2011 BlackRock, Inc. All Rights Reserved.

Media Relations (Europe/Asia)
Caroline Hancock
44-207-743-2103
Caroline.Hancock@blackrock.com

Media Relations (NTR plc)
Victoria Keogh
353 1 2063734
Victoria.keogh@ntrplc.com

Media/Investor Relations (U.S.)
Brian Beades
212-810-5596
Brian.Beades@blackrock.com              

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