BlackRock Seeking to Become One-Stop Shop for Private Assets (2)

After dominating bonds and equities investing for years, BlackRock Inc. is looking to become a one-stop destination for clients in private markets, a more lucrative area of finance.

The world’s biggest asset manager, which oversees about $9 trillion, wants to serve clients with all types of private-market investing and plans to expand the business rapidly, Brent Patry, global head of BlackRock’s capital markets group, said in an interview. As part of the push, the firm announced the purchase of Kreos Capital,a London-based private debt manager, which has committed more than €5.2 billion ($5.6 billion) in deals since its ...