BlackRock to Acquire Aperio for USD 1.05 Billion | Financial Buzz

BlackRock to Acquire Aperio for USD 1.05 Billion

BlackRock, Inc. (NYSE: BLK) reported entry into a definitive agreement to acquire Aperio from Golden Gate Capital and Aperio employees for USD 1.05 Billion in cash.  “The wealth manager’s portfolio of the future will be powered by the twin engines of better after-tax performance and hyper-personalization. BlackRock and Aperio, working together, will bring unmatched capabilities to meet these objectives,” said Martin Small, head of BlackRock’s U.S. Wealth Advisory business. “The combination will bring institutional quality, personalized portfolios to ultra-high net worth advisors and will create one of the most compelling client opportunities in the investment management industry today.”

“Aperio has been honored to earn the trust of the most demanding wealth managers by always putting investors’ interests first and partnering with advisors to solve the complexities of UHNW investors through research integrity and excellence in human-centric client experience. With BlackRock, we have found a like-minded fiduciary firm with long-standing roots in tax-efficient indexing, a commitment to sustainable investing, and Diversity, Equity & Inclusion, and a track record of delivering consultative whole portfolio solutions to wealth management intermediaries,” said Aperio co-heads, Liz Michaels and Ran Leshem. “We are excited to harness BlackRock’s capabilities and reach to keep innovating on behalf of an even larger base of wealth managers and institutional investors.”

 Aperio will operate as a separately branded team within BlackRock’s U.S. wealth advisory business.  Rob Little and Dan Haspel, Managing Directors at Golden Gate Capital, said, “During our highly successful partnership with the world class team at Aperio, the company significantly expanded its client base and capabilities, while continuing to operate with an unparalleled focus on customized solutions for the new institutional market. We are very excited for Aperio as they embark on this next chapter with BlackRock, who is the perfect partner to bring Aperio’s extreme fiduciary focus and expertise to a global audience.”

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