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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 that ADP, Best Buy, Self, Truist, and Varo have joined its Emergency Savings Initiative (ESI) to enhance access to low-cost savings products for financially vulnerable Americans. This collaboration aims to innovate and scale effective savings solutions, marking a significant milestone for the ESI. Partners will deliver tailored solutions to low- to moderate-income workers via various channels. BlackRock has committed $50 million to address the savings crisis, emphasizing the need for structured support to improve financial stability for those facing economic insecurity.
BlackRock Long Term Private Capital has acquired a majority interest in Transaction Data Systems (TDS), a leading pharmacy software provider. GTCR, the previous owner, retains a minority stake. TDS, known for its pharmacy management systems and clinical applications, aims to enhance operations and patient engagement. CEO Jude Dieterman highlights the partnership with BlackRock as a means to further TDS's growth objectives. This acquisition marks LTPC's fourth investment and second in North America, underscoring its strategy of investing in high-quality businesses.
BlackRock announced product enhancements to two iShares ETFs, effective around June 21, 2021. The iShares Nasdaq Biotechnology ETF (IBB) will transition to track the ICE Biotechnology Index and will be renamed as iShares Biotechnology ETF. Similarly, the iShares PHLX Semiconductor ETF (SOXX) will now track the ICE Semiconductor Index and change its name to iShares Semiconductor ETF. Investors in these ETFs need not take any action, and no capital gains distributions are expected from this transition.
BlackRock, Inc. (NYSE: BLK) announced its financial results for Q1 2021, emphasizing its commitment to enhancing financial well-being for individuals. The earnings report and supplemental materials can be accessed via their investor relations website. A teleconference hosted by CEO Laurence D. Fink, President Robert S. Kapito, and CFO Gary S. Shedlin will take place on April 15, 2021, at 8:30 a.m. ET for investors and analysts. This session will also be available for replay until April 29, 2021. For more information about BlackRock, visit their corporate website.
BlackRock (NYSE:BLK) and Temasek have formed a partnership named Decarbonization Partners to create venture capital and private equity funds aimed at decarbonization solutions. The initial combined capital commitment is US$600 million, with a total fundraising target of US$1 billion for the first fund. This initiative focuses on technologies that reduce carbon emissions and aims to support a net zero economy by 2050. Both firms emphasize the importance of scalable decarbonization technologies and view this partnership as a historic investment opportunity in climate solutions.
BlackRock has launched two active sustainable ETFs, the U.S. Carbon Transition Readiness ETF (LCTU) and the World ex U.S. Carbon Transition Readiness ETF (LCTD), raising over $1.5 billion combined. LCTU became the largest ETF launch ever with $1.2 billion, while LCTD secured approximately $500 million. These funds aim to invest in companies poised for success in a low-carbon economy, utilizing advanced analytics for decision-making. The launch underscores growing institutional interest in climate-aware investment strategies.
BlackRock Real Assets has achieved a final close of US$4.8 billion for the Global Renewable Power Fund III (GRP III), attracting commitments from over 100 institutional investors globally. This fund targets investments in renewable power generation and climate infrastructure across the Americas, Europe, and Asia, aiming for risk-adjusted returns with positive environmental impacts. Three initial investments have been made in onshore wind and solar projects, contributing to regional net zero goals. BlackRock emphasizes integrating sustainability for resilient portfolios.
BlackRock, Inc. (NYSE: BLK) will announce its first quarter 2021 earnings before the NYSE opens on April 15, 2021. CEO Laurence D. Fink, President Robert S. Kapito, and CFO Gary S. Shedlin will lead a teleconference for investors at 8:30 a.m. ET. Interested participants can join the call by dialing US (800) 374-0176 or international (706) 679-8281. The earnings release and additional materials will be available on www.blackrock.com before the call. A replay of the teleconference will be accessible from 11:30 a.m. ET on April 15 until midnight on April 29, 2021.
BlackRock Private Equity Partners has closed over USD$3 billion in capital commitments for its inaugural Secondaries & Liquidity Solutions strategy. This includes USD$2.4 billion for its Secondaries & Liquidity Solutions Fund, surpassing the USD$1.5 billion target. This is the largest fundraising for a debut private equity secondaries strategy globally. Over 70 institutional investors participated, demonstrating confidence in BlackRock’s strategy amidst growing demands for liquidity in private markets.
BlackRock (NYSE: BLK) appoints Paul Bodnar as Global Head of Sustainable Investing, overseeing sustainable research, analytics, and product development. He previously led initiatives at the Rocky Mountain Institute to support net-zero transitions. Bodnar’s extensive background includes roles in the U.S. government, notably at the National Security Council, where he influenced major climate policies. BlackRock is committed to helping clients achieve net-zero investment goals and will publish temperature alignment of its assets by year-end as part of its sustainability strategy.
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