Room for Growth at the Top?
The world’s largest asset manager is considering ways to get even bigger.
BlackRock CEO Larry Fink said the firm is engaging in discussions with potential strategic deal partners.
“We are looking at different opportunities related to technology, private markets,” Fink said on the firm’s earnings call last week. “We're always engaged in conversations, but I'm challenging the team and myself to really think more broadly and more openly about the opportunities we have.”
BlackRock’s assets under management dipped 3% in the latest quarter to $9.1 trillion.
The firm’s executive team appears to be “itching to do something big” in terms of M&A, said Kyle Sanders, a stock analyst with Edward Jones.
And while BlackRock has done deals over the past five years, Sanders suggested it may be seeking something bigger. “In this period of disruption, they're using their old playbook,” he said.
Chart of the Week Pensions have seen the valuations of their private markets portfolios sink this year, data from pension consultancy the Equable Institute shows.
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