HedgeCo.Net- Hedge fund investor BlackRock, Inc. today announced that it has completed its acquisition of the fund of funds business of Quellos Group, LLC. BlackRock is calling the combined fund of funds platform BlackRock Alternative Advisors.
Laurence D. Fink, BlackRock’s Chairman and Chief Executive Officer said, “Extreme market volatility over the past couple of months accelerated the opportunity for strategic interactions between our respective investment and risk management professionals and reinforced the value of operating on a unified, global platform.”
“In addition, the market environment bolstered our belief that demand for top quality funds of funds and innovative investment solutions will continue to increase. We are excited to welcome our new colleagues and look forward to delivering the tremendous capabilities of BlackRock Alternative Advisors to our clients.” Fink said.
BlackRock is one of the world’s largest publicly traded investment management firms. As of June 30, 2007, assets under management were $1.230 trillion. Headquartered in New York City, the firm has approximately 5,000 employees in 18 countries and a major presence in key global markets, including the U.S., Europe, Asia, Australia and the Middle East.
Alex Akesson
Editor for HedgeCo.Net
Email: alex@hedgeco.net
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