BlackRock was founded in 1988 by Larry Fink and seven partners as a risk management and fixed income institutional asset manager, originally as part of The Blackstone Group. It is headquartered in New York City United States of America (USA).
Key developments:
- 1988: Founded as Blackstone Financial Management
- 1994: Separated from Blackstone Group
- 1999: Goes public
- 2009: Acquired Barclays Global Investors/iShares
- 2020: Selected to manage Federal Reserve’s bond-buying program
Ownership:
- Publicly traded company (NYSE: BLK)
- Major shareholders include:
- Vanguard Group
- Capital Group
- State Street Corporation
- Institutional investors
Current status:
- World’s largest asset manager
- Manages over $10 trillion in assets
- Known for:
- iShares ETF platform
- Aladdin investment technology
- ESG investing initiatives
- Institutional and retail investment products
The company has grown from a fixed-income specialist to become the world’s largest investment management firm, with significant influence in global financial markets.