March 26 (Reuters) - BlackRock ( BLK ) has launched its

first model portfolio blending private and publicly traded

assets, it said on Wednesday, as it looks to expand its

footprint in the lucrative private market landscape.

Model portfolios are blueprints that financial advisers use

to manage their clients' investments. Tailored for a variety of

risk tolerances and goals, they can help advisers save time and

costs they would otherwise have spent on building portfolios

from scratch.

Adding private assets to these portfolios, which typically

consist of stocks and bonds, could help BlackRock ( BLK ) tap a broader

investor base.

The move aligns with the asset manager's strategy to cement

its presence in private markets - a goal it has pursued through

multi-billion-dollar acquisitions - after years of dominance in

low-cost funds.

Its commitment to this expansion was underscored last month

when it linked Chairman and CEO Larry Fink's compensation to its

private market push.

The company, however, is facing competition from asset

managers such as KKR and Apollo Global, which

have established a formidable presence in the industry.

BlackRock ( BLK ) did not disclose the fee details for the new

models.