Blackrock Stock Price, News & Analysis

BlackRock (NYSE: BLK) has elected Bayo Ogunlesi to its Board of Directors as a non-independent director following BlackRock's acquisition of Global Infrastructure Partners (GIP) in October 2024. Ogunlesi, the Founding Partner, Chairman and CEO of GIP, joins as a Senior Managing Director at BlackRock. With this appointment, BlackRock's Board will comprise 17 members, including 14 independent directors. Prior to founding GIP in 2006, Ogunlesi spent 23 years at Credit Suisse in various senior positions, including Executive Vice Chairman and Chief Client Officer of its Investment Banking Division.

BlackRock has converted its International Dividend Fund into an active ETF, launching the BlackRock International Dividend ETF (NYSE:BIDD). This marks the firm's first active mutual fund to ETF conversion and first U.S.-listed active ETF focusing on high-quality dividend-paying companies across international developed and emerging markets. The ETF, managed by an all-female portfolio management team led by Olivia Treharne and Molly Greenen, aims to invest at least 80% of its net assets in dividend-paying international companies. BIDD has an expense ratio of 0.61% and tracks the MSCI ACWI ex US Index.

KBRA has assigned a BBB- rating with a Stable Outlook to BlackRock Private Credit Fund's $125 million senior unsecured notes. The notes include a $70 million tranche at 7.14% due 2027 and a $55 million tranche at 7.33% due 2030. The rating is supported by BlackRock's $10.5 trillion AUM platform and $65 billion private debt platform. The fund's portfolio consists of 99.9% senior secured first lien loans focused on core middle market companies. As of Q3 2024, the fund maintained low non-accruals (0.01% at FV), gross leverage of 0.41x, and solid asset coverage at 307%.

GeoWealth, iCapital, and BlackRock (NYSE: BLK) have announced a strategic partnership to enhance unified managed accounts (UMAs) with private assets integration. The collaboration enables registered investment advisors (RIAs) to access BlackRock's custom model portfolios through GeoWealth's platform, featuring private markets, direct indexing, and fixed income SMAs alongside traditional ETFs and mutual funds. The integration leverages iCapital's Multi-Investment Workflow Tool to streamline alternative assets investing, offering unified trade orders, automated processes, and consolidated client communications.

BlackRock's 13th annual Global Insurance Report reveals that 91% of insurers plan to increase investments in private assets over the next two years. The survey, covering 410 insurance investors across 32 markets, highlights key trends for 2024:

1. Increased focus on private markets, with 96% of APAC and North American insurers planning to boost allocations.
2. Clean energy infrastructure investments targeted by 60% of insurers for low-carbon transition objectives.
3. Emphasis on technology for private asset modeling (53%) and regulatory capital integration (51%).

Despite concerns about regulatory developments (68%) and geopolitical tensions (61%), 74% of insurers have no plans to change their current risk profiles. In public markets, 42% plan to increase allocations to government and agency bonds, while in private markets, there's growing interest in various forms of private debt.

BlackRock, Inc. (NYSE: BLK) has released its financial results for the third 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 (786) 460-7166 or from outside the US at (888) 600-4862, referencing the BlackRock Conference Call (ID Number 3678546). A live, listen-only webcast will also be available on BlackRock's website. The webcast replay will be accessible by 10:30 a.m. ET on Friday, October 11, 2024, through the investor relations section of BlackRock's website.

BlackRock (NYSE: BLK) has successfully completed its acquisition of Global Infrastructure Partners (GIP), creating an industry leader in infrastructure across equity, debt, and solutions. The combined platform, branded as Global Infrastructure Partners (GIP), a part of BlackRock, will manage approximately $170 billion in AUM with a 600-person global team overseeing more than 300 active investments in over 100 countries.

This acquisition consolidates over $100 billion of private markets AUM and approximately $750 million of run rate management fees for BlackRock, boosting its private markets AUM by about 40%. GIP will continue to be led by Bayo Ogunlesi and the Office of the Chairman. BlackRock plans to appoint Ogunlesi to its Board of Directors at the next regularly scheduled meeting.

BlackRock (NYSE: BLK) has announced it will report its third quarter 2024 earnings before the New York Stock Exchange opens on Friday, October 11, 2024. The company will host a teleconference call for investors and analysts at 7:30 a.m. ET on the same day.

Key executives, including Chairman and CEO Laurence D. Fink, President Robert S. Kapito, and CFO Martin S. Small, will lead the call. The earnings release and supplemental materials will be available on BlackRock's investor relations website before the call.

Interested participants can dial (786) 460-7166 from the US or (888) 600-4862 from outside the US, referencing the BlackRock Conference Call (ID Number 3678546). A live webcast will also be available, with a replay accessible by 10:30 a.m. ET on the same day.

BlackRock (NYSE: BLK) and Santander have signed a memorandum of understanding (MoU) to expand their partnership in private asset financing. Under this agreement, funds and accounts managed by BlackRock will invest up to $1 billion per year in select project finance, energy finance, and infrastructure debt investment opportunities with Santander through structured transaction formats.

This expansion follows an initial transaction where BlackRock-managed funds agreed to provide financing on a $600 million diversified portfolio of infrastructure credit from Santander. The partnership aims to provide long-term, flexible capital to support Santander's project finance growth while offering BlackRock clients access to attractive, differentiated investment opportunities.

BlackRock's private debt franchise, valued at $86 billion, offers flexible financing solutions to global financial institutions and corporate relationships. The firm has established a leading position in the infrastructure debt market, focusing on sourcing, structuring, and managing client assets with income generation potential.