BlackRock's Fink signals post-crisis acquisition interest - reports

'World will get through this’

Larry Fink, the chief executive of BlackRock, has said the world's largest asset manager could return to striking acquisition deals amid market upheaval caused by the coronavirus pandemic, the Financial Times reports.

Fink said in a shareholder update on Monday (30 March) that the company's "work is not done" and its growth would be driven by building on BlackRock's alternative investment management business in the coming years. The paper quoted him: "The world will get through this crisis. The economy will recover. And for those investors who keep their eyes not on the shaky ground at our feet, but on the horizon ahead, there are tremendous opportunities to be had in today's markets." The FT said consolidation has loomed over the asset management sector as fees for active management fell and inves...