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BlackRock, Inc. - BLK STOCK NEWS

Welcome to our dedicated page for BlackRock news (Ticker: BLK), a resource for investors and traders seeking the latest updates and insights on BlackRock stock.

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.

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BlackRock has launched the iShares U.S. Manufacturing ETF (NYSE: MADE), expanding its thematic equity suite. This ETF aims to capture opportunities arising from the U.S. manufacturing renaissance, driven by recent policy initiatives that incentivize reshoring manufacturing activities.

The fund targets companies potentially benefiting from supportive policies and secular trends in American manufacturing. With an expense ratio of 0.40%, MADE tracks the S&P U.S. Manufacturing Select Index. Recent policies like the Infrastructure Investment and Jobs Act, Inflation Reduction Act, and Chips and Science Act have allocated $2.1 trillion to improve infrastructure and incentivize critical industries.

Since 2020, construction spending on U.S. manufacturing has nearly tripled from $78 billion to $234 billion as of May 2024. MADE invests in companies across various sectors, including consumer cyclicals, technology, automotive, defense, and construction.

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BlackRock (NYSE: BLK) has successfully priced a $2.5 billion debt offering of senior unsecured notes through its subsidiary, BlackRock Funding, Inc. The offering consists of three tranches: $800 million at 4.600% due 2027, $500 million at 4.900% due 2035, and $1.2 billion at 5.350% due 2055. The notes will be fully guaranteed by BlackRock on a senior unsecured basis.

The net proceeds will primarily fund the cash consideration for BlackRock's proposed acquisition of Preqin Holding The 2027 Notes include a special mandatory redemption clause if the Preqin Transaction is not completed. The offering is expected to close on July 26, 2024, subject to customary conditions.

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BlackRock, Inc. (NYSE: BLK) has released its financial results for the second quarter of 2024. The company's earnings release and supplemental materials are available on their investor relations website. A teleconference call for investors and analysts will be hosted by Chairman and CEO Laurence D. Fink, President Robert S. Kapito, and CFO Martin S. Small at 7:30 a.m. ET.

Interested participants can dial in from the United States at (313) 209-4906 or from outside the US at (866) 400-0049, referencing the BlackRock Conference Call (ID Number 8861191). A live, listen-only webcast will also be available on BlackRock's website, with a replay accessible by 10:30 a.m. ET on July 15, 2024.

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BlackRock's ninth annual Read on Retirement™ survey reveals increased optimism about retirement among Americans, with 68% feeling on track, up from 56% last year. However, significant concerns persist. Women are 30% less likely than men to feel on track. Despite 77% of Gen Z feeling on track, 69% worry about their savings lasting through retirement. Over 60% of respondents across all demographics still fear outliving their savings, consistent over the past three years. Baby Boomers express the need for more education on income strategies, while Millennials struggle with balancing short- and long-term savings, many carrying credit card debt. The survey underscores a need for better access to retirement planning tools and employer support, with 72% of employers concerned about their employees' retirement preparedness and 99% feeling responsible to help.

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BlackRock (NYSE: BLK) will report its second quarter 2024 earnings on July 15, 2024, before the New York Stock Exchange opens. Chairman and CEO Laurence D. Fink, President Robert S. Kapito, and CFO Martin S. Small will host an investor and analyst teleconference at 7:30 a.m. ET. The earnings release and supplemental materials will be available on BlackRock's investor relations page prior to the call. Interested participants can dial in from the U.S. at (313) 209-4906 or internationally at (866) 400-0049, using the ID 8861191. A live listen-only webcast will also be accessible via the investor relations section of BlackRock's website, with a replay available by 10:30 a.m. ET on July 15, 2024.

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BlackRock has introduced the iShares Large Cap Max Buffer Jun ETF (Cboe: MAXJ) as part of its new buffer ETF series. This ETF provides up to 100% downside protection while aiming to mirror the performance of the iShares Core S&P 500 ETF (IVV), with an upside cap. The MAXJ, noted for being the most affordable of its kind, launched today. BlackRock's buffer ETFs leverage options strategies to help investors navigate market volatility and stay invested through various market cycles. The series includes upcoming ETFs such as SMAX, DMAX, and MMAX, which will roll out quarterly over the next year. BlackRock now manages $25 billion in assets across over 40 active ETFs in the U.S.

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BlackRock has agreed to acquire Preqin for £2.55 billion ($3.2 billion) in cash. This acquisition integrates Preqin's private markets data solutions with BlackRock’s Aladdin tech, enhancing their private markets capabilities. Preqin’s data tools will complement Aladdin’s workflow capabilities, creating a comprehensive private markets technology and data platform. The private markets segment is rapidly growing, with alternative assets expected to reach $40 trillion by the decade's end. Preqin's extensive data coverage includes 190,000 funds and 60,000 fund managers, expected to generate $240 million in highly recurring revenue in 2024. The acquisition is set to close by the end of 2024, pending regulatory approvals.

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BlackRock (NYSE: BLK) has announced a strategic partnership with financial technology firm GeoWealth to offer custom models that integrate private markets, direct indexing, and fixed income SMAs alongside ETFs and mutual funds in a single account. This initiative aims to address the $37 trillion U.S. wealth market by simplifying access to various asset classes for advisors.

BlackRock's custom models business, which has generated $31 billion in new assets over the past four years, will be expanded through GeoWealth’s platform. This strategic move is expected to streamline and scale the integration of public and private markets, enhancing advisors' ability to create diversified, personalized, and tax-efficient portfolios.

GeoWealth's platform, with over $28 billion in assets and nearly 200 RIAs as of December 31, 2023, will enable the implementation of these custom models. The partnership aims to leverage BlackRock's portfolio design expertise and GeoWealth's technology to innovate and improve the advisor experience.

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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.

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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.

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FAQ

What does BlackRock, Inc. do?

BlackRock is a multinational investment management corporation, offering a range of financial products including equity strategies, fixed income, multi-asset classes, money market funds, and alternative investments.

When was BlackRock founded?

BlackRock was established in 1988.

How much is BlackRock's assets under management (AUM)?

As of March 2024, BlackRock manages $10.473 trillion in assets.

What is BlackRock's stance on blockchain technology?

BlackRock is investing in blockchain technology and has recently led a $47 million funding round for Securitize, a leader in tokenizing real-world assets.

Who are BlackRock's primary clients?

BlackRock primarily serves institutional clients, which account for about 80% of its managed assets.

What is the BlackRock USD Institutional Digital Liquidity Fund (BUIDL)?

BUIDL is BlackRock’s first tokenized fund on Ethereum, allowing investors to earn yield while holding tokens on the blockchain.

How geographically diverse is BlackRock?

BlackRock serves clients in more than 100 countries, with over one-third of its managed assets coming from outside the U.S. and Canada.

What percentage of BlackRock's assets are in equity strategies?

54% of BlackRock's managed assets are in equity strategies.

Who is Joseph Chalom?

Joseph Chalom is BlackRock's Global Head of Strategic Ecosystem Partnerships and has joined Securitize's Board of Directors.

What are BlackRock's main investment products?

BlackRock’s main investment products include ETFs, equity strategies, fixed income, multi-asset classes, money market funds, and alternatives.

BlackRock, Inc.

NYSE:BLK

BLK Rankings

BLK Stock Data

124.65B
148.60M
0.94%
88.3%
1.12%
Investment Banking and Securities Dealing
Finance and Insurance
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United States of America
NEW YORK