Mayer Brown served as legal counsel to BlackRock, Inc. with respect to a new mandate with Citi Wealth (the wealth management arm of Citibank’s Private Bank, Wealth at Work and Citigold businesses) in connection with a new portfolio offering for its clients—Citi Portfolio Solutions powered by BlackRock. The agreement includes BlackRock managing approximately $80 billion in assets for thousands of Citi Wealth clients.
Under the mandate, BlackRock will manage a range of core, opportunistic and thematic investment strategies across equities, fixed income, multi-asset class strategies and, over time, private markets. The mandate is expected to launch in the fourth quarter of 2025, subject to customary approvals and conditions.
The Mayer Brown team was led by Corporate & Securities partner Adam Kanter and included Corporate & Securities counsel Peter McCamman, Employment & Benefits partners Erin Cho and Duncan Watson, and Litigation & Dispute Resolution partner Chris Chapman, all in the firm’s Washington DC and London offices.