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Wednesday, January 27, 2010

BlackRock's Latest Numbers Showcase the BGI Effect

Reported by Daniel Tovrov

BlackRock, which unveiled its fourth quarter numbers on Wednesday, said Barclays Global Investors contributed $94 Million to its line. BlackRock's acquisition of BGI closed on December 1.

New York City-based BlackRock earned $256 million in the three months ended December 31, up $204 million compared to the year-ago period. The firm pulled in revenues of $1.54 billion, a 45 increase from the same period last year.

BlackRock reported a staggering total of $3.346 trillion assets under management, up $1.91 trillion quarter-to-quarter, and $2.04 trillion year-over-year, largely thanks to the Barclays deal.

iShares, BlackRock's newly gained ETF business, grew by $170.9 billion during the year to $495.5 billion as the industry surpassed the $1 trillion AUM mark. 

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