Private market deals

A look behind the curtain

Understanding the continually increasing co-investments of the private market ELTIFs in the Scalable Broker.

Investing involves risks. Liquidity restrictions apply.
Consider specific product information.

Companies in the BlackRock Private Equity Fund

OpenAI

The world’s most valuable start-up and leading developer of AI products such as ChatGPT and DALL·E.

Stepstone & AVIV

German market leader for online job classifieds and various leading specialist classifieds portals, primarily in real estate.

Belron

One of the world’s leading vehicle glass repair and replacement services, including the renowned brand Carglass.

Rubix Group is Europe’s leading supplier of industrial maintenance, repair and overhaul (MRO) products and services.

Founded more than 100 years ago in Germany, Rubix generates more than €3 billion in annual revenue and operates across 22 countries with over 750 locations, serving more than 220,000 customers in industries such as automotive, aerospace and chemicals.

Rubix combines technical expertise, scale and a broad product portfolio to drive industrial efficiency in a market shaped by automation and high safety standards.

Source: BlackRock / Rubix Group, 2025

Advent International is a global private equity firm with about $100 billion AUM (2025).

SPONSOR:
Advent International

SECTOR:
Industrial services

REGION:
Europe

STRATEGY:
Buyout

INVESTED:
Q3 2025

“Project CyberG” is a cybersecurity platform focused on the public sector in the United States.

The company name and details cannot be disclosed due to this affiliation.

Source: BlackRock, 2025

SPONSOR:
Direct Co-Investment

SECTOR:
IT consulting & other services

REGION:
North America

STRATEGY:
Buyout

INVESTED:
Q3 2025

Froneri, formed in 2016 through the merger of Nestlé and R&R Ice Cream, is the world’s second-largest ice cream company, known for iconic brands such as Häagen-Dazs, Oreo, Mövenpick and Milka.

As part of the rapidly growing food and beverage sector, the company benefits from premiumization and snack formats, driven by innovation, brand partnerships, and efficiency. Froneri achieves annual sales of €5.5 billion.

Source: BlackRock / Froneri, 2025

PAI Partners is a leading European Private-Equity firm with €28B assets under management (Oktober 2025) and a focus on business service, foods & consumer, industrial goods & services and healthcare.

SPONSOR:
PAI Partners

SECTOR:
Consumer goods & food

REGION:
Europe

STRATEGY:
Buyout

INVESTED:
Q3 2025

Founded in 2015, OpenAI has established itself as a global leader in artificial intelligence with the development of ChatGPT.

With its core products ChatGPT and DALL·E, OpenAI reaches hundreds of millions of users and shapes both research and everyday applications. In a global AI market projected to reach $700 billion by 2030, OpenAI is cementing its role as a market leader and driving force in the industry.

The company is characterised by its foundation-based governance. Its central mission is to ensure that AI is developed in a way that benefits all of humanity.

Source: BlackRock / OpenAI, 2025

SPONSOR:
Direct via BlackRock

SECTOR:
Information technology

REGION:
North America

STRATEGY:
PE-Growth

INVESTED:
Q4 2025

Belron, known through brands such as Carglass, Autoglass and Safelite, has established a significant global footprint as a leader on vehicle glass repair and replacement across 40 countries on six continents over the last 126 years.

With an extensive network of more than 1,800 service centres and a fleet of 8,500 mobile units, Belron is the market leader in 10 key markets.

Belron's economies of scale, diverse operations, and well-known brands set it apart from regional competitors.

Source: BlackRock / Belron, 2025

CD&R is a global investment company with more than 45 years of experience (May 2025).

GIC is one of Singapore’s government funds, established in 1981 to secure the country’s financial future (June 2025).

SPONSOR:
Clayton, Dubilier & Rice (CD&R), GIC

SECTOR:
Industrial services

REGION:
Europe

STRATEGY:
Buyout

INVESTED:
Q2 2025

Stepstone and AVIV were part of Axel Springer – an international media and technology company based in Berlin that successfully transitioned from a pure-play print publisher to a leading, diversified media company in Europe.

Stepstone is the market leader in Germany for online job classifieds with a strong reputation among HR professionals. AVIV comprises various leading specialist classifieds portals, primarily in the real estate segment.

This new corporate structure, separating these classifieds businesses from Axel Springer into individual entities, enables both companies to unlock their full potential and accelerate their growth ambitions.

Source: BlackRock / The Stepstone Group & AVIV Group, 2025.

KKR is a leading global investment company with €209 billion assets under management in private equity (May 2025).

SPONSOR:
KKR

SECTOR:
Media

REGION:
Europe

STRATEGY:
Buyout

INVESTED:
Q2 2025

Opella Healthcare is a global leader in consumer healthcare, offering trusted over-the-counter (OTC) medications and self-care solutions. Headquartered in France, the company serves millions of consumers worldwide with innovative healthcare solutions.

Opella is the maker of many world known brands, including Allegra, Buscopan, Doliprane, Dulcolax, Enterogermina, Essentiale and Mucosolvan.

Opella operates independently to enhance access to high-quality health products that empower individuals to take control of their well-being. Through a science-backed approach, localised marketing strategies and a commitment to consumer education, it ensures to remain a preferred choice for self-care products.

Source: BlackRock / Opella Healthcare, 2025.

CD&R is a global investment company with more than 45 years of experience (May 2025).

SPONSOR:
Clayton, Dubilier & Rice (CD&R)

SECTOR:
Healthcare

REGION:
Global

STRATEGY:
Buyout

INVESTED:
Q2 2025

Nord Anglia Education, founded in 1972, is the world's largest premium education provider. Headquartered in London, it operates over 80 schools in 33 countries across Asia, the Middle East, America, and Europe, serving more than 85,000 students aged 2 to 18.

Nord Anglia Education's commitment to personalised learning, academic excellence, and holistic development has established it as a leader in premium education. Its global presence and diverse student body make it a unique and influential player in the education sector.

Its partners include UNICEF, Juilliard, MIT, IMG Academy, King’s College London, and Project Zero, a research centre at the Harvard Graduate School of Education.

Source: BlackRock / Nord Anglia, 2025.

EQT is a global investment organisation with €269 billion in total assets under management (April 2025).

SPONSOR:
EQT

SECTOR:
Education

REGION:
Global

STRATEGY:
Buyout

INVESTED:
Q1 2025

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Participate in the growth of privately-owned market leading companies such as OpenAI, Stepstone or Carglass driving substantial value growth beyond the stock market - with ELTIFs in the Scalable Broker.

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Private market deals

A look behind the curtain

Companies in the BlackRock Private Equity Fund

OpenAI

Stepstone & AVIV

Belron

Discover private market investments

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