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Blackrock

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Not to be confused with Blackstone Group, a private equity firm..

BlackRock Inc

Type	Public (NYSE: BLK)
Founded	1988
Headquarters	New York, USA
Key people	Laurence D. Fink, CEO
Industry	Investment management
Products	Asset management
Revenue	US $2.1 billion (2006)^[1]
Employees	Approximately 6,000
Slogan	"Opportunity favors the prepared mind."
Website	www.blackrock.com

BlackRock Inc. (NYSE: BLK) is a major American investment management firm. As of September 30, 2007, BlackRock’s assets under management totaled $1.3 trillion^[2] across fixed income, liquidity, equity, alternative investment and real estate strategies.

1 History
2 Key people
3 Footnotes and References
4 External links

History

In 1988, BlackRock was founded as the Financial Management Group within the private equity firm Blackstone Group. Larry Fink, BlackRock’s founder and CEO, had joined Blackstone in 1988 as a partner, along with Ralph Schlosstein, former White House aide under the Carter administration, and Keith Anderson. Before joining Blackstone, Laurence D. Fink was a Managing Director at First Boston where he pioneered the mortgage-backed securities market in the United States. In 1992, Fink, Schlosstein, and Anderson separated from the Blackstone Group under the name BlackRock and aggressively re-invented itself as an independent asset management company. In 1999, assets under management had grown to $165 billion and the firm decided to go public. Much of BlackRock's recent growth can be attributed to its acquisitions. On January 28, 2005, BlackRock purchased State Street Research Management, a mutual fund business that had previously been owned by MetLife. This acquisition added a sizable equity business to BlackRock's funds, which had previously consisted almost exclusively of fixed income securities. On September 29, 2006, BlackRock completed its merger with Merrill Lynch Investment Managers (MLIM). On June 26, 2007, BlackRock entered into an agreement to acquire the Fund of Funds business from Quellos Capital Management^[3] Presently, headquartered in New York City, BlackRock operates 35 offices in 18 different countries, maintaining a major presence in most key markets including the United States, the United Kingdom, Asia, Australia and Europe.