BlackRock was hired to manage the Fed's commercial mortgage-backed securities program, purchases of newly issued corporate bonds, and purchases of existing investment-grade bonds and credit ETFs. Was this a bailout bonanza for BlackRock? 🤔
This wasn't just an opportunity for BlackRock to gain access to government funds, but also a chance to bail out one of its most valuable assets: iShares, the collection of ETFs it acquired from Barclays for $13.5 billion in 2009, which had grown to a $1.9 trillion giant by 2020.
BlackRock was hired to manage the Fed's commercial mortgage-backed securities program, purchases of newly issued corporate bonds, and purchases of existing investment-grade bonds and credit ETFs. Was this a bailout bonanza for BlackRock? 🤔
This wasn't just an opportunity for BlackRock to gain access to government funds, but also a chance to bail out one of its most valuable assets: iShares, the collection of ETFs it acquired from Barclays for $13.5 billion in 2009, which had grown to a $1.9 trillion giant by 2020.