BLK agrees to invest up to $1 billion per year in select project finance, energy finance and infrastructure debt investment opportunities with SAN.

BlackRock (NYSE:BLK) will invest up to $1B per year in select project finance, energy finance, and infrastructure loans from Banco Santander (NYSE:SAN), the companies said Thursday. The move comes after funds and accounts managed by BlackRock (BLK),

BlackRock Inc. will invest as much as $1 billion a year in energy and project finance assets from Banco Santander SA, signaling another step in the money manager’s growing expansion this year into infrastructure.