BlackRock to Acquire Remaining Stake in SpiderRock Advisors
Provided by
Dow Jones
By Denny Jacob
BlackRock agreed to acquire the remaining equity interest in SpiderRock Advisors, boosting its commitment to personalized separately managed accounts.
Terms of the deal, expected to close in the second quarter, weren't disclosed.
The asset-management giant made a minority investment in SpiderRock in 2021.
SpiderRock, which provides customized option overlay strategies in the U.S. wealth market, managed about $4.8 billion in client assets as of February.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
March 08, 2024 11:06 ET (16:06 GMT)
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