BlackRock Plans Private Market Hires to Win Over Rich Europeans
By Benjamin Stupples and
Save
BlackRock Inc. is ramping up plans to offer more of its private-market products to individuals outside the US as the Wall Street giant increasingly tries to muscle in on one of the hottest areas in global finance.
The world's largest asset manager is targeting a hiring drive and tie-ups with digital investment platforms in the Europe, Middle East and Africa region to boost individual investors' access to its private-markets products, BlackRock executive Fabio Osta said in an interview.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
30 minutes ago
- Yahoo
Texas allows state agency investment in BlackRock after firm steps away from climate initiatives
The Texas Comptroller's office removed international investment giant BlackRock Inc. from a list of companies public agencies were required to divest from as the company has realigned with state law by withdrawing from key clean energy initiatives. Senate Bill 13, passed in 2021, requires the comptroller's office to maintain a list of financial firms that 'boycott' the fossil fuel industry, and included BlackRock, several other companies and roughly 350 investment funds before Tuesday's update. Texas Comptroller Glenn Hegar called the removal of BlackRock and over a dozen investment funds a 'meaningful victory' for Texas' energy economy but clarified in a statement that the list or divestment proceedings were not done to intentionally target companies. 'We never set out to punish any of these firms, and the hope was always that any firm we included on the list would eventually take steps to ensure they were removed,' Hegar said. SB 13 defines boycotting as refusing, terminating or penalizing business with a company that works in the fossil fuel industry 'without ordinary business purpose.' Known as an 'anti-ESG (environment, social and governance) law,' the bill led the Teacher Retirement System of Texas and the Texas Permanent School Fund to divest billions from BlackRock in 2023 and 2024. The firm was placed on the initial list in 2022 for its involvement in initiatives like Climate Action 100+, which aims to reduce corporate greenhouse gas emissions. Direct investment into fossil fuel companies does not preclude firms from being considered as boycotting, according to an information sheet from the state comptroller's office. BlackRock has since stepped back from Climate Action 100+ and completely removed itself from another initiative, Net Zero Asset Managers, which the comptroller's office attributed to the company's removal. In a statement to the Texas Tribune, John Kelly, BlackRock global head of corporate affairs, said they appreciated the comptroller's resolution and touted the firm's investment in other state affairs. 'BlackRock is proud to help millions of Texans retire with dignity and, on behalf of clients, invests over $400 billion in corporations, local governments, energy infrastructure and other private assets throughout the state,' Kelly said. 'These investments support the continued growth of the Texas economy.' Among the firm's in-state investments is assistance in creating a Texas-based Stock Exchange, which aims to launch in February 2026 with a boost from new legislation signed by Gov. Greg Abbott in mid-May. BlackRock was one of the initial investors, and Hegar said that while the investment in the stock exchange plan was unrelated to the list update, it represented 'a real commitment to overall policy changes.' BlackRock's removal from the divestment list has not completely withdrawn the business from scrutiny by Texas officials. Attorney General Ken Paxton sued the company and two others in November 2024, claiming they comprised an 'investment cartel' that intentionally bought shares in coal companies to reduce output and achieve clean energy standards. The Federal Trade Commission and the Department of Justice submitted a joint statement of interest in the case in late May. Hegar touched on the suit briefly in his remarks, but said the company's move away from clean energy initiatives is a signal of good favor. 'Even as legislators and state leaders continue to address lingering concerns about proxy voting and other policies that prioritize politics over profits, I am hopeful these actions represent a long-term shift,' Hegar said. Hegar and Paxton are facing their own lawsuit over SB 13 in federal court from the American Sustainable Business Council, a progressive business group. The suit claims the law violates companies' First and Fourteenth Amendment rights by discriminating against firms' viewpoints and circumventing due process. That suit is scheduled for a motion hearing on June 18. First round of TribFest speakers announced! Pulitzer Prize-winning columnist Maureen Dowd; U.S. Rep. Tony Gonzales, R-San Antonio; Fort Worth Mayor Mattie Parker; U.S. Sen. Adam Schiff, D-California; and U.S. Rep. Jasmine Crockett, D-Dallas are taking the stage Nov. 13–15 in Austin. Get your tickets today!
Bloomberg
2 hours ago
- Bloomberg
Moelis Hires HSBC Business Services Dealmaker Milano
Boutique investment bank Moelis & Co. is hiring HSBC Holdings Plc business services banker Mark Milano for a senior role in London, according to people with knowledge of the matter. Milano is set to start at Moelis in late June as a London-based managing director for business services in Europe, the Middle East and Africa, the people said. The 47-year-old banker, who's a Canadian and British national, joined HSBC as a managing director in 2019, according to his LinkedIn profile.
Bloomberg
2 hours ago
- Bloomberg
Memecoin Platform Pump.Fun Plans $1 Billion Raise via Token Sale
A platform dedicated to highly speculative cryptoassets is planning to raise $1 billion by selling tokens, taking advantage of the current wave of positive sentiment buoying digital-asset markets. which has been compared to the edgy 4chan social media network, allows users to quickly create, promote and sell memecoins, a type of token often associated with jokes and memes and sometimes with celebrities and US presidents.
