BlackRock Puts Private Assets in Model Portfolios for First Time

BlackRock Inc., fresh off a $28 billion deal spree to transform into a major player in alternative assets, is integrating complex private investments into its ready-made portfolios for individuals.

In what the firm calls a first for the asset-management industry, BlackRock set up the model portfolios with publicly traded stocks and bonds alongside more complex private equity and credit funds — and will possibly include other alternatives at some point.

The managed models available Wednesday will make it easier for financial advisers to offer alternative assets to clients who have typically had little exposure to private markets.

“For years, ...