The latest news in investment offerings, financial products and other services relevant to wealth advisors and their clients.

BlackRock
BlackRock has launched the iShares Nasdaq 100 ETF, which it said gives investors cost-efficient access to the companies driving innovation and long-term economic growth across sectors including technology, healthcare, consumer discretionary, and communication services.

The ETF has a gross expense ratio of 0.12 per cent, with a waiver reducing the expense ratio to 0.10 per cent through July 31, 2027. The ETF’s initial net asset value will be $24 per share; it is expected to begin trading on Nasdaq as early as today (Thursday, July 9).

IQQ builds on an established lineup of iShares Nasdaq-100 strategies, with over $41 billion in assets globally. The suite offers investors the ability to adjust concentration through the iShares Nasdaq Top 30 Stocks ETF and the iShares Nasdaq-100 ex Top 30 ETF, or seek income while maintaining participation in potential long-term growth through the iShares Nasdaq Premium Income Active ETF.

Explaining the rationale for the ETF, BlackRock said that as AI, digitalization, and other structural trends reshape the economy, accessing the companies driving this innovation has become an increasingly important component of growth-oriented portfolios. US large-cap and technology exposure has seen record demand this year, attracting over $270 billion in net inflows year-to-date, it said, citing Morningstar data as of May 31.

Petra Funds Group, MSCI
Petra Funds Group, a New York-headquartered fund administration provider to global private investment managers, has unveiled its strategic alliance with MSCI, the market index and analytics group.

Private market managers can access MSCI's sustainability and climate datasets as a result of the collaboration, Petra said in a statement. They can obtain a view of environmental, social and governance data and performance previously only enjoyed by larger managers and limited partners (LPs).

Citing the rationale for the partnership, Petra said LPs commonly rely on public market ESG indexes to evaluate private market managers, due to the lack of credible, scaled private market alternatives. However, many mid-market GPs do not have visibility into the benchmarks that LPs use.

Through PeerView, Petra's general partner (GP), clients will gain access to MSCI's sustainability and climate datasets – including climate and emissions benchmarks, ESG metrics, and MSCI Controversies data – which will be integrated into Petra's ESG reporting services. PeerView is designed to complement existing ESG frameworks and reporting standards.

"Private market GPs are increasingly being evaluated through a public-market ESG lens, often without knowing it," Charlie Chipchase, managing director, Petra Funds Group, said. "Think of Petra as the operating system and MSCI as the engine powering the intelligence."

Petra Funds Group â€“ founded in 2021 â€“ has offices in a number of US cities, such as Boston, New York, Houston, Saratoga Springs, Salt Lake City and Philadelphia. Other cities are outside the US, including London, Halifax and Amsterdam. It administers more than $600 billion in assets.

KKR
Arctos, a business of private markets giant KKR, has announced the final close of Arctos Keystone Partners Fund I, or Keystone Fund I, its inaugural fund dedicated to providing bespoke growth capital and financing to alternative asset managers.

Keystone Fund I, and its affiliated vehicles, closed with $6.2 billion in capital commitments from investors including family offices, global wealth platforms, along with pension funds, retirement systems, endowments and insurance companies.

The fund, which exceeded its original $4 billion target size at the time of the close, represents the largest first-time fund in the broader GP Solutions space, KKR said in a statement this week. 

The Keystone private equity strategy is led by Joe Corcoran, John Stott, Charlie Tingue, and Michael Belsley.