BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City. Founded in 1988, BlackRock has grown into the world’s largest asset management company, with an expansive reach of $8.7 trillion in assets under management as of the end of 2020.
Starting as a risk management and fixed-income institutional asset manager, BlackRock was initially a subsidiary of the investment bank Blackstone. However, the firm soon stood on its own, making strides in the financial services industry and outgrowing its parent company.
In the 2008 financial crisis, BlackRock demonstrated its financial acumen by navigating the economic turbulence effectively. This propelled the company’s reputation, leading to a significant increase in assets under management. The company’s intelligent risk-management platform, Aladdin, also played a critical role.