Quintet Private Bank has expanded its strategic partnership with BlackRock to give clients broader access to private equity, private credit, and real assets, as the Luxembourg-based bank doubles down on private markets amid growing demand from European investors.

Under the agreement, Quintet maintains full discretion over investment allocations while leveraging BlackRock’s extensive platform. The enhanced offering is now available to clients in continental Europe and is expected to roll out in the UK by year-end.

“It’s unlocking opportunities,” said Bryan Crawford, Quintet’s Group Head of Investment and Client Solutions. “We already have clients investing.”

The partnership builds on an initial collaboration launched in 2023, as Quintet sought to diversify its investment offering following a period of losses. The bank has since staged a turnaround under CEO Chris Allen, a former HSBC executive who took the helm in 2022.

Quintet, formerly KBL, is owned by Precision Capital, a vehicle for Qatar’s Al Thani family, which has invested over €350m since acquiring the group for around €1bn in 2012. The bank’s client assets reached €100.6bn at the end of 2023, marking a 16% year-on-year increase.

The expanded mandate with BlackRock comes as the world’s largest asset manager intensifies its push into private markets. Regulatory changes across Europe have made it easier for individuals to access private equity and credit through “evergreen” fund structures, a model BlackRock is already scaling with US retail clients via model portfolios.

Quintet’s group includes legacy private banking names such as Brown Shipley in the UK and Merck Finck in Germany, and serves a client base of high-net-worth families, foundations, and external asset managers across Europe.

Source: Bloomberg

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