The world's biggest asset manager BlackRock has pumped about 16 billion euros (US$18 billion) into 810 European companies since the end of ...
LONDON: The world's biggest asset manager BlackRock has pumped about 16 billion euros into 810 European companies since the end of January, more than half of them in distress due to the coronavirus pandemic, a source with direct knowledge of the matter told Reuters.
Others included SSP Group , where BlackRock acquired 21 million shares in March to take its stake to 12.65 per cent.The share prices of many companies had risen since the capital injection, to the benefit of BlackRock's clients, as liquidity fears eased, the source said. BlackRock, which managed around US$6.5 trillion in assets at the end of March for both retail and institutional clients, is a major investor in most of Europe's leading stock markets, and the region's biggest money manager by assets under management.
As lockdowns are lifted and companies get a better sense of changes in consumer spending, a second wave of equity fundraisings could come in the fourth quarter, the source added.
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