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. reports developments from a global asset management and financial technology business built around investment products, institutional client services and technology platforms. Recurring updates include operating results, net flows across ETFs, active strategies and private markets, and product launches under the iShares brand, including fixed income ETFs tied to leveraged loans and other credit markets.
Company news also covers Aladdin and Preqin data, analytics and benchmark capabilities for private credit, infrastructure-focused activity through Global Infrastructure Partners, and philanthropic workforce initiatives funded by The BlackRock Foundation. These releases connect BlackRock's asset management platform with technology services, private markets data, infrastructure investment themes and skilled-trades workforce programs.
BlackRock, Global Infrastructure Partners (GIP), Microsoft, and MGX have launched the Global AI Infrastructure Investment Partnership (GAIIP) to invest in data centers and supporting power infrastructure. The partnership aims to unlock $30 billion in private equity capital, potentially mobilizing up to $100 billion in total investment. GAIIP will focus on expanding AI infrastructure, primarily in the United States, to fuel innovation and economic growth.
Key aspects of the partnership include:
- Investment in new and expanded data centers to meet growing demand for computing power
- Development of energy infrastructure to power these facilities
- Support for an open architecture and broad ecosystem
- Collaboration with NVIDIA for expertise in AI data centers
- Engagement with industry leaders to enhance AI supply chains and energy sourcing
BlackRock's 2024 Read on Retirement®: Advisor Outlook reveals retirement plan advisors are focusing on active and income strategies amid changing market conditions. 81% of advisors are discussing retirement income with clients, and 82% either recommend or are likely to recommend a retirement income solution in the next year.
55% of advisors believe active managers can consistently outperform the market, citing access to more investments, loss protection, and sector choices as key benefits. The survey also highlights a sharp increase in AI adoption, with 53% of advisors likely to use AI-powered tools in the next 12 months, up from 9% currently.
Advisors view client servicing and participant education as important for growth, with 55% differentiating their practice through expertise in meeting participants' needs. However, only 48% currently offer financial wellness plans, indicating room for improvement in education programs.
BlackRock (NYSE: BLK) has announced the expected closing date for its acquisition of Global Infrastructure Partners (GIP) on October 1, 2024, subject to regulatory approvals and customary conditions. The transaction involves a merger where BlackRock will become a subsidiary of a new entity, BlackRock Funding, Inc. (New BlackRock). Existing BlackRock shares will convert one-for-one into New BlackRock shares, which will retain the BLK ticker on the NYSE. The current board and executives will continue their roles in New BlackRock.
Additionally, BlackRock plans to delist its Euro-denominated 1.250% Notes due 2025 from the NYSE and apply for admission to the Official List of The International Stock Exchange (TISE). This decision is related to making BlackRock a wholly-owned subsidiary of New BlackRock and delisting its common stock from the NYSE.
BlackRock (NYSE: BLK) and Partners Group (SIX: PGHN) have announced a strategic partnership to launch a first-of-its-kind multi-private markets model portfolio solution for retail wealth investors. This innovative offering will provide access to private equity, private credit, and real assets in a single portfolio, managed jointly by both firms. The solution aims to simplify and streamline how individual investors and advisors access private markets, addressing the growing demand for alternative investments in the retail wealth sector.
Key features include:
- A single subscription document for ease of access
- Robust operating procedures and risk management
- Three risk profiles for investors to choose from
- Combination of BlackRock and Partners Group funds
This partnership positions both firms to capitalize on the accelerating growth in private markets and managed models, with retail wealth investors expected to increase their allocations to private markets from $2.3T in 2020 to $5.1T by 2025.
BlackRock has announced the planned termination of the iShares® iBonds® Oct 2024 Term TIPS ETF (IBIA). The fund's last trading day and final NAV calculation date is set for October 15, 2024, with liquidation scheduled for October 18, 2024. This aligns with the design of iBonds ETFs, which are structured to mature like individual bonds during a specific window.
As the ETF approaches its final distribution date, it will transition from holding bonds to short-term instruments and cash. Shareholders can expect to receive liquidation proceeds around the liquidation date, subject to their brokerage's processes. BlackRock emphasizes that other iBonds ETFs across various bond types remain available, offering investors tools for building bond ladders and managing interest rate risk in rising rate environments.
GeoWealth, a proprietary technology and turnkey asset management platform (TAMP), has secured an $18 million growth investment led by BlackRock (NYSE: BLK). The funding will support the continued development of GeoWealth's offerings, enabling advisors to meet client demand for a broader range of asset types in a unified account. Kayne Anderson Growth Capital and J.P. Morgan Asset Management also participated in the round.
The capital will be used to enhance GeoWealth's proprietary technology platform, including the development of unified managed account (UMA) capabilities, alternative investments reporting, and tax management functionalities. As of December 31, 2023, GeoWealth's platform supports over $28 billion in assets, with more than 180,000 accounts managed by nearly 200 registered investment advisors (RIAs).
BlackRock (NYSE:BLK) has announced a quarterly cash dividend of $5.10 per share of common stock. The dividend will be payable on September 23, 2024 to shareholders of record at the close of business on September 9, 2024. This declaration by BlackRock's Board of Directors demonstrates the company's commitment to returning value to its shareholders through consistent dividend payments.
BlackRock's iShares Ethereum Trust ETF (ETHA) has launched on Nasdaq, offering investors exposure to the price of ether, Ethereum's native token. The ETF features a 0.25% sponsor fee, with a one-year waiver reducing it to 0.12% on the first $2.5B AUM. This launch follows the successful debut of BlackRock's iShares Bitcoin Trust (IBIT) in January 2024.
Jay Jacobs, U.S. Head of Thematic and Active ETFs at BlackRock, highlighted the strong demand for crypto-asset access through the iShares platform. Robert Mitchnick, Global Head of Digital Assets, emphasized ETHA's potential to support various blockchain applications. The ETF leverages BlackRock's institutional-grade technology and risk management expertise, demonstrating the firm's commitment to innovation in digital assets.
BlackRock's iShares Ethereum Trust ETF (ETHA) has received SEC approval and is set to launch on Nasdaq on July 23, 2024. The ETF aims to track the price of ether, Ethereum's native token. ETHA features a 0.25% sponsor fee, with a one-year waiver reducing it to 0.12% on the first $2.5B AUM. Jay Jacobs, U.S. Head of Thematic and Active ETFs, highlighted increasing client interest in digital asset exposure through ETPs.
Ethereum, the second-largest cryptocurrency by market cap, is positioned as a global technology platform driving digital transformation. Over the past 12 months, iShares has launched 170 ETFs and ETPs, including the iShares Bitcoin Trust (IBIT). With over 20 years of experience and more than 1,400 ETFs globally, iShares continues to innovate and provide investors with diverse investment options.
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.