BlackRock Plans to Launch Private Fund in China
BlackRock is preparing to set up a private fund in China. The firm intends to set up a wholly foreign owned enterprise (WFOE) first for its private fund business.
“The firm intends to set up a wholly foreign owned enterprise (WFOE) first for its private fund business.
Global fund managers have rushed to China’s economy as it opens up the capital markets to help counter outflows and promote the use of the yuan.
News Source: Bloomberg
BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. At December 31, 2016, BlackRock’s AUM was $5.1 trillion. BlackRock helps clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. As of December 31, 2016, the firm had approximately 13,000 employees in more than 30 countries and a major presence in global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa.
- Origin: New York, United States
- Assets: $219.87 billion
- Revenue: $10.50 billion
- Employees: 12,000
Official Website: www.blackrock.com
News & Media: Press Release
Updated 8th August 2016
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