 "The BlackRock logo is seen outside of its offices in New York")
BlackRock Inc plans to raise about $10 billion as part of a new business that would take direct stakes in companies, according to a person familiar with the matter.
The move marks a new strategy for the company that manages more than $6 trillion for investors through publicly offered mutual funds and exchange-traded funds, many of which own broad swaths of the market.
A multibillion-dollar fund could put the world’s largest asset manager in more direct competition to own promising private companies with the likes of Berkshire Hathaway Inc’s Warren Buffett and private-equity firms, including Blackstone Group LP,
The move marks a new strategy for the company that manages more than $6 trillion for investors through publicly offered mutual funds and exchange-traded funds, many of which own broad swaths of the market.
A multibillion-dollar fund could put the world’s largest asset manager in more direct competition to own promising private companies with the likes of Berkshire Hathaway Inc’s Warren Buffett and private-equity firms, including Blackstone Group LP,
