BlackRock Buys SpiderRock as World's Largest Asset Manager Expands SMA Business

Key TakeawaysBlackRock said Friday it will acquire the remaining stake in SpiderRock Advisors, an asset management firm.The world's largest asset manager purchased a minority stake in SpiderRock in 2021, and will now acquire the remaining equity.SpiderRock managed about $4.8 billion in assets as of last month, and will expand BlackRock's offerings in separately managed accounts.The financial terms of the deal were not disclosed. BlackRock (BLK) is set to expand its offerings in separately managed accounts ( ...