BlackRock expands its private equity reach

Zoom in: For BlackRock, it's about higher fees. For private equity, it's about new money.

Details: BlackRock and Partners have developed a "model portfolio" that provides diversified private markets exposure via a single investment.

• Beginning next year it will be available for individuals with at least $2.2 million of assets (minus real estate) who want up to 10% exposure.

Go deeper, via the WSJ: "Partners Group was an early mover in private wealth, and launched the first U.S. private-equity fund aimed at individuals in 2009. Still, as a Swiss firm, it isn't as well known in the U.S. as its competitors. By joining forces with BlackRock, which has roughly 30,000 wealth advisers using its model portfolios, Partners hopes to extend its reach."