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In late November, the asset management titan bought private-credit firm HPS for $12 billion. CFO Martin Small explained how the acquisition fits the firm's three requirements. BlackRock is spending top dollar in its quest to dominate private-markets investing, recently agreeing to buy private-credit firm HPS Investment Partners for $12 billion. Topline results"You've got to be a credible operator on a consolidated basis of these businesses," Small said of acquisition targets. Advertisement"We'll now have a $220 billion preform a private credit business at BlackRock so we'll be very scaled in that regard," he said.
Persons: HPS, Martin Small, It's, BlackRock isn't, Larry Fink, iShares, Small, Fink, Rob Kapito, HPS — Scott Kanick, Mike Patterson, Scot French —, You've, we'll Organizations: BlackRock, HPS Investment Partners, Global Infrastructure Partners, Goldman Sachs Financial, Conference, Tuesday, Barclays, New Locations: New York City, BlackRock
"BlackRock has posted industry-leading organic growth over the last year while most of our competitors are experiencing persistent outflows," a company spokesperson told Insider. I criticize the way they defended it," Seifert told Insider. "Given no mortal can fill Larry's shoes, there is a high risk they pick some Jeff Immelt equivalent," Keeley told Insider. Fink chose to make his letters public, which leads to concerns that Fink wrote them as a PR exercise. However, the most effective engagement is typically private," Edmans told Insider.
Persons: Larry Fink, It's, Fink, hasn't, Larry, BlackRock, BlackRock's, Terrence Keeley, , it's, Ron DeSantis, GIORGIO VIERA, Erik McGregor, Keeley, They're, Cathy Seifert, Seifert, Rob Kapito, Mark Wiedman, Martin Small, Rachel Lord, Susan Wagner, Jack Welch, Jeff Immelt, Welch, Electric's, Immelt, Tim Buckley, Abby Johnson, Ron O'Hanley, Jamie Dimon, Alex Edmans, Edmans, Michael M, he's, I've, Rob Organizations: BlackRock, Republicans, GOP, Bloomberg, CNBC, Florida Gov, Getty, UBS, Environmental, CFRA Research, Company, JPMorgan, Citi, GE, Vanguard, Fidelity, London Business School Locations: BlackRock, Texas, Florida, Fink
Phil Rosen here — March's inflation report is due at 8:30 a.m. "Super core inflation in the CPI report has shown no signs of abating yet," he wrote in a note. Below, I'm breaking down how the world's largest asset manager expects the inflation story to pan out in the long-run. But BlackRock isn't convinced that strength can continue. These three under-the-radar signals suggest that a US recession isn't as close as you might think.
BlackRock strategists expect the Fed will stop its rate-hiking cycle without getting inflation to its 2% target. That means Americans will have to live with high prices for years to come, they said. Strategists from the world's largest asset manager said inflation has sparked a cost-of-living crisis, and the Fed has responded with all-out approach to cool prices. "We think the 'politics of inflation' narrative is on the cusp of changing," strategists wrote in a note Monday. And Nobel economist Paul Krugman, for his part, said the job market is the best its been in decades, and the Fed won't need high unemployment to bring down inflation.
If you invested in tech stocks in 2022, chances are you're sitting on a loss right now. As they head into 2023, investors could be forgiven for thinking that the worst of the tech rout is over. Big Tech is 'not dead' Michael Yoshikami, founder and CEO of Destination Wealth Management, said Big Tech is "not dead," though it will take time to recover. Goldman Sachs and Citi also see pockets of opportunities within Big Tech, with both naming Amazon and Meta Platforms as their top picks for 2023. The sector has traditionally been viewed as a growth sector, but some analysts say tech stocks are now value stocks instead.
Work your cash; buy bonds Chaudhuri said it was time to rethink the role of bonds, as a higher-rate environment sees fixed income yields rise. BlackRock also said investors can earn income in the "comparative safety" of cash-like instruments through ultra-short duration securities. Reallocate away from growth stocks Growth stocks, such as Big Tech, were an investor favorite in an era of low rates. But this year, tech stocks have been among the worst-performing sectors . Live with inflation Inflation is set to stick around, given the continued strength coming from services and shelter, according to BlackRock.
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