![]() Fink earned an MBA from the University of California at Los Angeles (UCLA) in 1976 and a BA from UCLA in 1974. He also serves on the Advisory Board of the Tsinghua University School of Economics and Management in Beijing and on the Executive Committee of the Partnership for New York City. In addition, he serves on the boards of the Museum of Modern Art, the Council on Foreign Relations and the International Rescue Committee. He serves as a member of the Board of Trustees of New York University (NYU) and the World Economic Forum, and is Co-Chairman of the NYU Langone Medical Center Board of Trustees. Fink was a member of the Management Committee and a Managing Director of The First Boston Corporation. BlackRock's mission is to help our clients build better financial futures and the firm is trusted to manage more money than any other investment company in the world. He and seven partners founded BlackRock in 1988, and under his leadership, the firm has grown into a global leader in investment and technology solutions. Fink is Chairman and Chief Executive Officer of BlackRock. For more independent commentary and analysis, visit D. 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 1 BlackRock is the largest money-management firm in the world with more than US 10 trillion in assets under management. He is the current chairman and CEO of BlackRock, an American multinational investment management corporation. That is, in part, a result of a cyclically strong period for selling investments made by the firm’s funds. Laurence Douglas Fink (born November 2, 1952) is an American billionaire businessman. 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. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |