DUBAI, March 25 (Reuters) - Dubai's Emirates NBD

bank is teaming up with BlackRock ( BLK ) to offer its

wealth management clients opportunities to access alternative

asset classes, with a focus on private markets, it said in a

statement on Tuesday.

Both firms have signed a Memorandum of Understanding to

establish an investment platform for the United Arab Emirates

(UAE) wealth management market, which will initially focus on

private credit and multi-alternatives.

Private markets, including both equity and credit markets,

are less liquid but also promise higher returns than listed

securities.

Global demand for private market investments has been

growing in recent years, providing investors with opportunities

to diversify their portfolios and seek greater returns, as

global capital markets activity slowed amid higher borrowing

costs.

BlackRock ( BLK ), the world's largest asset manager, spent roughly

$28 billion in 2024 to strengthen its private market offerings.

Emirates NBD Asset Management clients will be able to invest

in private markets through BlackRock's ( BLK ) Alternative Investments

platform, which currently has over $450 billion in assets under

management, according to Tuesday's statement.