# Q-BLK Real Assets II Parallel LP - Natural Resources

Q-BLK Real Assets II Parallel LP - Natural Resources is a Pension Fund based in New York, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2008
- **Assets under management:** Undisclosed

## Regulatory record

- **Reports private funds:** No

## About

Q-BLK Real Assets II Parallel LP - Natural Resources launched in 2008 as a specialized vehicle within BlackRock's real assets platform. The fund traces its origin to a joint venture with Quellos Group, an alternative investment manager that BlackRock acquired, which initially structured the Q-BLK fund series to give institutional investors access to private real assets and natural resources. The parallel fund structure allows specific limited partners to commit capital alongside the main Q-BLK Real Assets II vehicle. The fund targets direct investments and co-investments across natural resources, including mining, metals, energy properties, and other hard-asset categories. Confirmed limited partners include Pennsylvania Public School Employees' Retirement System, American Honda Master Trust, Directors Guild of America - Producer Pension Plan, Northern Kentucky University Foundation, and the Jewish Federation of St. Louis. The vehicle holds both a natural resources portfolio and private equity fund interests domiciled in New York. BlackRock operates the fund through its real assets division, which manages institutional capital across infrastructure, real estate, and natural resources globally. The Q-BLK series represents an early integration of Quellos Group's alternative investment capabilities into BlackRock's platform after the acquisition. No recent operational events or team updates have been publicly disclosed for this specific parallel vehicle. The fund's structural differentiator is its parallel limited partnership architecture, which gives institutional co-investors like PSERS and the Northern Kentucky University Foundation direct exposure to natural resources assets alongside the flagship Q-BLK fund — a model that aligns smaller endowments and pension plans with BlackRock's institutional deal flow without requiring separate negotiating resources.

## Sectors

- Real Estate
- Infrastructure
- Energy Transition & Renewables
- Private Equity

## Questions

### What asset classes does the fund invest in?

The fund invests in natural resources and real assets, including mining, metals, energy properties, and other hard-asset categories. The vehicle holds both a direct natural resources portfolio and private equity fund interests, giving investors exposure to operating assets and fund-level positions in the natural resources sector.

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- [PZU Group](https://altss.com/profile/pzu-group)
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Last updated: 2026-06-03T20:00:00.000Z

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