BlackRock plans to raise $10 bln for equity investments: Reuters
BlackRock Inc plans to raise about US$10 billion as part of a new business that would take direct stakes in companies, a source told Reuters. A multibillion-dollar fund could put the world’s largest asset manager in more direct competition with the likes of Berkshire Hathaway Inc’s Warren Buffett and private equity firms, including Blackstone Group LP, from which it was initially spun out. The new effort is being chaired by Mark Wiseman, who BlackRock hired in 2016 from the Canada Pension Plan Investment Board, the source said. Day-to-day management is being led by André Bourbonnais, the former CEO of Public Sector Pension Investment Board (PSP Investments).
8 February 2018•2 mins read
