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BlackRock's $32 Billion Hedge-Fund Business Has A Little Problem

by bloomberg.com posted 2years ago 13654 views
Yes, he runs the biggest asset management firm the world has ever seen. But right now, Laurence D. Fink has a little hedge-fund problem. Fink’s BlackRock Inc., the $4.5 trillion behemoth known for its mutual funds and ETFs, threw in the towel on its lackluster macro hedge fund last month -- a humbling capitulation that stunned the investing world. While hedge funds represent only a tiny fraction of BlackRock’s total assets...