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. BLK and Banco Santander, S.A. SAN have signed a memorandum of understanding, under which funds and accounts managed by BLK will invest up to $1 billion per year in select project finance,

An agreement has been reached between BlackRock and Santander whereby BlackRock funds and accounts will use organised transaction formats to invest up to $1bn annually in infrastructure debt, project finance,