BlackRock
From MarketsWiki
| BlackRock Inc. | |
| Founded | 1988 |
|---|---|
| Headquarters | Headquartered in New York. The company serves clients from offices in 19 countries, maintaining a major presence in North America, Europe, Asia-Pacific, and the Middle East. |
| Employees | 5,100 |
| Products | Specializes in risk management and trade processing |
| Web site | http://www2.blackrock.com |
BlackRock is a provider of global investment management services. As of Sept. 30, 2007, BlackRock managed $1.3 trillion across fixed income, equity, liquidity, asset allocation/balanced, real estate, and alternative strategies for institutional and retail clients worldwide.
BlackRock is independent in ownership and governance, with no single majority stockholder and a majority of independent directors. In terms of equity, the stake held by Merrill Lynch is approximately 49%, while PNC Financial Services Group retains an interest of about 34%. The remaining 17% is held by BlackRock employees and the public.
Contents |
History
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BlackRock was founded in 1988 as the Financial Management Group within the private equity firm Blackstone Group.
The company changed its name to BlackRock in 1992.
The company merged with PNC Financial Services Group in 1995.
In 2000, BlackRock began offering risk management and trade processing tools to external clients under the BlackRock Solutions brand. The tools were designed to provide portfolio transparency and increased efficiency. As of March 31, 2007, BlackRock Solutions provided services for over $4.5 trillion in securities and derivatives across 94 clients, many of whom are some of the largest financial institutions in the world.
BlackRock World Investment Trust was founded in 2005 in Wilmington, Delaware. It is a diversified, closed-end management investment company. The Trust’s primary investment objective is to seek current income, dividends and gains, with a secondary objective of long-term capital appreciation.
The Trust seeks to achieve its objectives by investing primarily in equity securities issued by companies located in countries throughout the world and utilizing an option writing strategy to enhance current gains. The Trust seeks to generate current dividends and income by investing in equity securities that pay dividends and also by investing up to 25% of its total assets in debt securities from time to time when the Trust believes that it is advantageous to do so.
Blackrock merged in 2006 with Merrill Lynch Investment Managers (MLIM).
In October of 2007, BlackRock acquired the fund of funds business of Quellos Group, LLC to form one integrated fund of funds platform.
