By Sarah Krouse
It is the first-ever attempt by the world’s largest asset manager to make such direct investments, according to people familiar with the matter. The move establishes BlackRock as a potential competitor to Wall Street private-equity giants like Carlyle Group LP and Apollo Global Management LLC.
For BlackRock Chief Executive Laurence Fink, it also sets up a rivalry with his old firm, Blackstone Group LP. Mr. Fink co-founded BlackRock as a division of Blackstone in 1988 but split from the private-equity giant in 1994.