BlackRock
BlackRock, Inc. is an American multinational corporation that is one of the world's largest investment management firms. Founded in 1988 by Larry Fink, Robert S. Kapito, Susan Wagner, and others, BlackRock offers a wide range of financial services, including investment management, risk management, and advisory services for institutional and retail clients globally. Its headquarters are located in New York City, New York, United States.
History
BlackRock was established in 1988 as part of the Blackstone Group, but it became independent in 1994. The company initially focused on fixed income securities and risk management. Over the years, BlackRock has grown through a series of acquisitions, including the purchase of Merrill Lynch Investment Managers in 2006 and Barclays Global Investors in 2009. The latter acquisition included the iShares brand, making BlackRock the largest provider of exchange-traded funds (ETFs) in the world.
Services
BlackRock offers a broad array of investment solutions, including equity, fixed income, alternative investments, and cash management. The firm is renowned for its Aladdin investment system, a proprietary technology platform that provides comprehensive risk analysis and portfolio management tools.
Impact
BlackRock has a significant influence on global financial markets due to its vast asset under management (AUM), which amounts to trillions of dollars. The firm's investment decisions can impact market trends, and it plays a crucial role in corporate governance through its voting power in companies it invests in.
Controversies
Despite its success, BlackRock has faced criticism and controversy, particularly regarding its environmental, social, and governance (ESG) investment strategies. Critics argue that the firm has not done enough to address climate change and other social issues through its investment practices.
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