Summary
U.S. fund manager BlackRock with various origination ties to U.S. banking and U.S. government asset management; reaches across the pond and expands its horizons.
Analysis
BlackRock should be considered the "Deal-Maker" of the year. This new deal gives BlackRock exposure to exchange-traded funds (ETF), and extends an international presence, both will bode well for the firm.
The potential for growth is extreme for the ETF's which only hold about 4% of the capital under management.
Further, Barclay's balance sheet will gain much-needed capital from this sale.
Mark Mariotti consults with leading institutions through GLG
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
