BlackRock ties senior executives’ pay to private market profits

BlackRock has implemented a new incentive arrangement for its executives, aligning their pay with the performance of its flagship private markets investment funds. The scheme, named the Executive Carry Program (ECP), is applicable to selected senior executives, excluding the CEO. It provides eligible executives with the opportunity to receive a portion of carried interest distributions originating from a pool of BlackRock’s main private markets investment funds. In an SEC filing, the company said that ...