BlackRock Clinches Deal to Buy $4.8B SMA Manager

BlackRock is scooping up SpiderRock Advisors, a provider of customizable options-overlay strategies, marking the firm’s second acquisition this year after snagging Global Infrastructure Partners for $12.5 billion. Taking a minority stake in SpiderRock allowed BlackRock to take the company for a “test drive” before completing the deal, said Cindy Zarker, director of relationship development at FUSE Research Network.

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Article published on March 11, 2024