BlackRock pushes back after Texas withdraws $8.5 billion investment

The world's largest asset manager, BlackRock, is pushing back on Texas' decision to withdraw roughly $8.5 billion in assets belonging to the Texas Permanent School Fund (PSF) over what the state says is a boycott of energy companies. Texas State Board of Education Chairman Aaron Kinsey on Tuesday announced that the PSF would withdraw funds to comply with a 2021 state law that seeks to prevent the state's public funds from being managed by financial institutions that boycott the oil and gas sector. Kinsey sa ...