BlackRock Buys Stake in Bourse Pre-IPO

BlackRock, the world's largest asset manager, has bought a stake in Moscow's MICEX-RTS bourse ahead of its expected IPO from Russia's state-backed private equity fund, the Russian fund said on Friday. The sale to New York-based BlackRock represents a quick sale for the Russian Direct Investment Fund, which bought a 1.25 percent in the bourse in January and later raised its holding to 2.7 percent, Reuters reported.

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