Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

BlackRock to buy Aperio for $1.05 billion from Golden Gate Capital, employees

Published 11/23/2020, 07:57 PM
Updated 11/23/2020, 08:00 PM
© Reuters.

(Reuters) - The world's largest asset manager BlackRock Inc (NYSE:BLK) said on Monday it will buy Aperio Group LLC, an investment management services provider, from private equity firm Golden Gate Capital and Aperio employees for $1.05 billion in cash.

BlackRock said the deal will boost its separately managed account (SMA) assets by roughly 30% to over $160 billion.

The asset manager said the deal will be funded by existing corporate liquidity and is anticipated to close in the first quarter of 2021. It added that the deal is minimally dilutive to its earnings per share and is not expected to be dilutive on a cash basis.

BlackRock plans to operate Aperio as a separately branded, vertically integrated team within the company's U.S. Wealth Advisory business.

Sausalito, California-based Aperio partners with wealth advisers to build and manage personalized public equity portfolios, among other things.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.