BlackRock

Three large investors raised capital to buy toxic assets

October 5, 2009 - 4:04am | Investment industry | News

Three more large investment firms have raised sufficient capital to participate in the joint partnership with the government to purchase toxic assets from banks.

The Treasury Department said Alliance Bernstein LP and BlackRock Inc., both headquartered in New York City, and Wellington Management Co., based in Boston, had all raised the $500 million minimum to begin operations.

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U.S. Treasury Department started buying $40 billion in assets from banks

July 9, 2009 - 7:38am | News | Other themes

The U.S. got started its plan to help buy as much as $40 billion in assets from banks without Pacific investment Management Co., the world’s biggest bond manager and an early supporter. Thus, yesterday the U.S. Treasury Department gathered nine money managers for the Public-Private investment program, or PPIP, including BlackRock Inc. and Invesco Ltd.

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Investment unit of BofA is not priced at $3 billion by the bidders

July 1, 2009 - 5:45am | Investment industry | News

According to the Financial Times, Bank of America Corp's primary investment management unit is getting lukewarm bids after its likeliest suitor, BlackRock Inc, signed a blockbuster deal to buy Barclays Global Investor for $13.5 billion.

The paper says that Bank of America has been trying to sell its Boston-based Columbia Management unit since earlier this year, but the bank has so far not announced a deal for the unit.

Bank of America Corp | BlackRock | Columbia Management | First Republic | investment management

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BlackRock buys BGI for $13.5 billion

June 12, 2009 - 4:04pm | Investment industry | News

British bank Barclays reported that it had agreed to sell its BGI investment arm to U.S. firm BlackRock for $13.5 billion, creating the world's biggest asset manager. A net gain of $8.8 billion would be used to bolster Barclays’s capital strength, boosting its core Tier 1 capital adequacy ratio by 1.5 percentage points. The cash and shares deal for Barclays Global Investors (BGI) will see Barclays take a 19.9% stake and two seats on the board of the enlarged group, to be called BlackRock Global Investors.

Barclays | Barclays Global Investors | BGI | BlackRock | Tier 1 Capital

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Everlasting negotiations of Barclays over BGI, next candidate is BlackRock

June 8, 2009 - 7:09am | Banks and internet banks | News

On Monday UK largest bank Barclays reported that it is in talks with BlackRock over a potential sale of its Barclays Global Investors business, but added that "significant" issues must be addressed for a deal to go ahead. The bank said that it has received proposals for the BGI business and for just the iShares exchange-traded-funds unit.

Barclays | BlackRock | exchange-traded-funds | iShares | UK bank

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