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BlackRock, Inc. (NYSE: BLK) is a leading American multinational investment management corporation based in New York City. Established in 1988, BlackRock initially focused on enterprise risk management and fixed income institutional asset management. Today, it stands as the world’s largest asset manager, boasting an impressive $10.473 trillion in assets under management (AUM) as of March 2024.
BlackRock's product portfolio is diverse, with 54% of managed assets in equity strategies, 27% in fixed income, 9% in multi-asset classes, 7% in money market funds, and 3% in alternative investments. The company’s passive strategies constitute around two-thirds of its long-term AUM, with its ETF platform holding a leading share in both domestic and global markets.
The firm primarily serves institutional clients, which account for approximately 80% of its AUM. Geographically, BlackRock is well-diversified, catering to clients in more than 100 countries, with over one-third of its managed assets coming from outside the United States and Canada.
One of BlackRock’s notable recent achievements includes leading a $47 million funding round for Securitize, a pioneer in tokenizing real-world assets using blockchain technology. This strategic investment underscores BlackRock’s commitment to driving innovation in digitizing capital markets. BlackRock’s Global Head of Strategic Ecosystem Partnerships, Joseph Chalom, has joined Securitize's Board of Directors, further solidifying this partnership.
Additionally, BlackRock has launched its first tokenized fund on Ethereum, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL). This fund allows investors to earn yield by holding tokens on the blockchain, with investments in cash, U.S. Treasury bills, and repurchase agreements. Investors can transfer their tokens at any time to other pre-approved investors, promoting liquidity and flexibility.
BlackRock continues to enhance its digital assets strategy and remains committed to meeting future client needs through innovative solutions. As the company ventures further into blockchain technology and tokenization, it aims to stay at the forefront of transforming the financial landscape.
BlackRock announced progress in enhancing financial security for U.S. workers by implementing its LifePath Paycheck™ solution in workplace retirement plans. Five plan sponsors, including Tennessee Valley Authority Retirement System, are set to adopt this solution for over 120,000 employees, enabling guaranteed income streams in retirement. Scheduled for initial rollout in 2022, this initiative aims to address financial insecurity as Americans live longer. The LifePath Paycheck integrates annuity contracts directly into target date strategies, emphasizing the industry's shift towards providing effective retirement income solutions.
BlackRock has launched the Expected Return Analyzer, a new portfolio analysis tool designed for financial advisors to enhance client investment strategies. Powered by BlackRock's Aladdin technology, this tool utilizes proprietary Capital Market Assumptions to evaluate how including private market exposures could improve client returns. A recent BlackRock study highlighted that traditional portfolios may fall short of past returns, advocating for increased allocations to private markets from 5% to 20% over several years. The tool aligns with BlackRock’s commitment to making alternative investments more accessible.
BlackRock, Inc. (NYSE: BLK) will report its third quarter 2021 earnings on October 13, 2021, prior to the NYSE opening. A teleconference hosted by CEO Laurence D. Fink, President Robert S. Kapito, and CFO Gary S. Shedlin will occur at 8:30 a.m. ET. Interested participants can join via dial-in or through a live webcast on BlackRock's website. Replay options will be available beginning at 11:30 a.m. ET on the same day, lasting until October 27, 2021. For more information, visit BlackRock's investor relations section.
BlackRock, Inc. (NYSE: BLK) has appointed Beth Ford, CEO of Land O’Lakes, and Kristin Peck, CEO of Zoetis, as independent directors on its Board. Chairman Laurence D. Fink highlighted their leadership experience and commitment to stakeholder impact. The Board will now have 18 members, with 16 being independent and seven women. Jessica P. Einhorn, a board member since 2012, will not seek re-election in 2022. This move reflects BlackRock's commitment to fresh perspectives and diversity in leadership.
BlackRock Long Term Private Capital has acquired a majority interest in Summit Companies, a leader in fire and life safety services, from CI Capital Partners. This acquisition aims to enhance Summit's growth through geographic expansion and scaling services. With over 20 years of experience, Summit serves 90,000 customers across 20 states. The investment is indicative of LTPC's strategy to invest in high-quality businesses, focusing on strong returns and effective management. This marks LTPC's fifth investment, emphasizing its commitment to enhancing safety regulations across industries.
BlackRock has announced a partnership with the Thurgood Marshall College Fund (TMCF) to support students from Historically Black Colleges and Universities (HBCUs) and Predominantly Black Institutions (PBIs). The annual contribution from BlackRock will come from the management fees of the BlackRock Liquid Federal Trust Fund (BLFT), aimed at advancing social outcomes through cash management. This initiative is backed by major firms, including Bank of America, Google, and Coca-Cola. BLFT’s assets under management have surged over 25% since the announcement, reflecting strong investor engagement.
BlackRock, Inc. (NYSE:BLK) announced a quarterly cash dividend of $4.13 per share, scheduled for payment on September 22, 2021. Shareholders of record will be those owning shares by the close of business on September 7, 2021. This dividend reflects BlackRock's commitment to returning value to its shareholders while supporting their financial well-being through accessible investment opportunities.
BlackRock, Inc. (NYSE: BLK) announced its financial results for Q2 2021, highlighting its commitment to enhancing financial well-being for investors. The earnings report is accessible at ir.blackrock.com/QuarterlyResults. A teleconference will be held on July 14, 2021, at 8:30 a.m. ET, led by key executives including CEO Laurence Fink. The public can listen via a webcast on the company's website. BlackRock aims to simplify investing, offering technology solutions that support financial growth for millions.
BlackRock (NYSE: BLK) has formed a strategic venture with SpiderRock Advisors to enhance wealth firms' access to options-based separately managed account (SMA) strategies. This partnership builds on BlackRock's leadership in personalized SMAs, managing over $190 billion as of March 31, 2021. The U.S. SMA market is valued at about $2.1 trillion, growing at 15% annually. SpiderRock Advisors, managing approximately $2.5 billion in client assets, provides customized options strategies aimed at risk management and yield enhancement. BlackRock will make a minority investment in SpiderRock Advisors to broaden its offerings.
BlackRock has received over US$250 million in commitments for its Climate Finance Partnership (CFP) from various institutional investors and governments. This initiative aims to enhance climate infrastructure investments in emerging markets, fostering a transition to a low-carbon economy. Major commitments include US$112.5 million in catalytic capital from France, Germany, Japan, and notable foundations. The CFP seeks to raise a total of US$500 million and will focus on sectors like renewable power generation and energy efficiency.
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