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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.
Neustark, a Switzerland-based carbon removal company, has raised $69 million in a funding round led by Decarbonization Partners, with participation from Blume Equity and existing investors including Siemens Financial Services and Holcim. The funding will support Neustark's mission to remove 1 million tons of CO2 by 2030 and expand its operations in Europe, North America, and Asia-Pacific. Neustark’s technology captures CO2 from biogas plants and binds it in mineral waste streams, creating carbonated, recycled aggregates for construction. The company operates 19 carbon capture plants and has 40 more under construction. This investment is one of the largest in the carbon removal sector, reinforcing Neustark's position as a leader in durable carbon removal solutions.
BlackRock launched two new ETFs: the BlackRock Long-Term U.S. Equity ETF (BELT) and the BlackRock High Yield ETF (BRHY). These ETFs are managed by BlackRock’s Strategic Equity and High Yield teams, respectively, and aim to provide liquidity, tax efficiency, and alpha. BELT focuses on long-term growth in U.S. equities, maintaining a concentrated portfolio of 20-25 positions. BRHY targets non-investment grade bonds with maturities of 10 years or less. With these launches, BlackRock now manages $25 billion across 40 active ETFs in the U.S. and has seen a significant increase in active ETF adoption.
BlackRock Canada, a subsidiary of BlackRock, announced final May 2024 cash distributions for its iShares Premium Money Market ETF. Unitholders recorded on May 23, 2024, will receive a cash distribution of $0.188 per unit, payable on May 31, 2024. This announcement pertains to the iShares Premium Money Market ETF with the ticker CM.R. Further details are available on the BlackRock website.
BlackRock (NYSE: BLK) has announced a quarterly cash dividend of $5.10 per share of its common stock.
The dividend is payable on June 24, 2024, to shareholders who are recorded as of the close of business on June 7, 2024.
BlackRock, Inc. (NYSE: BLK) has made a minority investment in Willow Network, Inc. to help financial advisors better serve new investors. Willow will launch two new certificate programs to address the financial challenges faced by women and younger investors, aiming to capitalize on the intergenerational wealth transfer. Advisors completing the programs will gain access to clients through Willow's platform. The partnership is focused on bringing financial well-being to a broader audience.
Securitize, a leader in tokenizing real-world assets, secured a $47 million funding round led by BlackRock, with participation from Hamilton Lane, ParaFi Capital, and Tradeweb Markets. The investment highlights Securitize's efforts in digitizing capital markets with blockchain technology, fueling innovation and expansion. BlackRock appointed a board member, emphasizing the potential of blockchain technology in reshaping finance. The funding coincided with the launch of BlackRock's tokenized fund on Ethereum, reinforcing the partnership.
BlackRock has completed the acquisition of SpiderRock Advisors, a leading provider of option overlay-based strategies for separately managed accounts, enhancing BlackRock's ability to offer a robust platform of SMA solutions. The acquisition strengthens BlackRock's U.S. Wealth Advisory business and expands their customization capabilities for financial advisors and clients. SpiderRock's expertise in option overlay and derivatives will help provide greater value to clients.
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