![]() ![]() ![]() Thanks to Fink’s ambitious and visionary leadership!įink has been named one of the ‘World’s Greatest Leaders’ by Fortune, and Barron’s has named him one of the ‘World’s Best CEOs’ for 14 consecutive years. Today, BlackRock is a global leader in investment and financial technology solutions, with a purpose to help more and more people experience financial well-being. Larry Fink is the Founder, Chairman and CEO of BlackRock Inc. With a whopping US $8.68 trillion assets under management (AUM) reported as of the end of 2020, BlackRock is the world’s largest asset management firm. from nothing to the world’s largest manager of people’s trusted money. Among the men who run Wall Street, it would be hard to find anyone who is not at least a bit in awe of Fink.įounded in 1988 with seven other partners, he built BlackRock Inc. Larry Fink is a highly renowned finance executive who’s known for his extensive knowledge and business acumen in finance and investment management. Tall, balding, and bespectacled- pontificating about interest rates, the dollar, bond yields, and financial regulatory reform- he speaks softly, in a tone that is authoritative and bland, which is nothing like the man off the air. It is no wonder to watch him being regularly interviewed on the television (often on CNBC). For more independent commentary and analysis, visit (‘Larry’) Fink is possibly one of the most important men in finance since the early 2000s. Jeffrey Goldfarb is an assistant editor at Reuters Breakingviews. At some point, though, the stars should align to give BlackRock a chance to return to its private equity funding roots. There would be cultural and tax-related complications in any transaction, of course. Fink some leeway to pay up for the assets. BlackRock’s steady earnings allow it to fetch a price-to-earnings valuation multiple of 17, while the lumpier profit profile of buyout shops mean the listed players trade on anĪverage ratio closer to 11. Other firms could be more available, though.īrand-name private equity shops that haven’t tapped public equity markets, including TPG, Providence Equity and Hellman & Friedman, may soon need to let senior partners cash out. The satisfying idea of a full-circle deal with Blackstone is financially feasible – BlackRock’s market value is $55 billion and Blackstone’s $38 billion, on a fully diluted basis – but unlikely. Fink might be reluctant to try building another alternatives operation, but he could buy one. Hedge funds are starting to chase the same retail investors. The sums must leave a nagging feeling for BlackRock, especially now that it is so big that it can’t hope to increase its existing business as quickly as in the past. The firm now directs about $110 billion of client money to outside so-called alternative investment funds. BlackRock couldn’t generate enough interest, however, and bailed out a couple of years later. In 2011, he brought in a high-profile team to invest directly in deals. Fink has tried to get into buyouts before. It also underscores how lucrative private equity can be compared with BlackRock’s more traditional That is, in part, a result of a cyclically strong period for selling investments made by the firm’s funds. Will unveil nearly identical profit – using the industry’s widely accepted metric of economic net income - when it reports next week. BlackRock just posted net income of $2.9 billion for last year. There’s a huge gap in the amount of assets the two firms manage, but their bottom lines look remarkably similar. ![]()
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