LONDON - BlackRock, the world's largest asset management firm, has entered into a global partnership with the Ellen MacArthur Foundation to set up an investment fund aimed at driving the development of a circular economy.

BlackRock, which controls assets valued at US$6.84 trillion, has launched the BGF Circular Economy Fund with the Ellen MacArthur Foundation providing expert insights and guidance on circular economy principles and practices.

Sumana Manohar, who co-manages the fund, said its initial investments will broadly be made in the fashion, plastics, and food and drink sectors.

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