MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, June 30, 2005 Fink Longs for Equities BlackRock is still on a crusade to make a name for itself as an equity manager, reports BusinessWeek. Even with State Street Research under its belt, the bond firm is looking to boost assets and its reputation in that area, through poaching top talent from firms including MFS, Boston Partners, and Weiss, Peck & Greer LLC; as well as considering other acquisitions. What's driving the equity move? On one hand, Fink cites investor demand, and on the other, he hypothesizes "maybe that's where my hubris lies." Equity managers looking to sell out to BlackRock's Laurence Fink should take note that the head of the New York bond giant is no Legg Mason. Fink tells BusinessWeek that although he often gets calls from investment bankers on deals, he "doubt[s] there is something that's going to fit our needs." That's because any acquisition should be comfortable fitting nicely and snugly with the larger BlackRock family, unlike the Legg Mason separate manager approach. "We have one platform and one organization," Fink told BusinessWeek. Printed from: MFWire.com/story.asp?s=10002 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |