Reuters- America’s three biggest banks have asked BlackRock to act as the lead asset manager for a $75 billion fund they are creating to support the asset-backed securities market, a source said onWednesday.
BlackRock, the largest publicly traded U.S. money manager that has long been praised for its expertise in fixed income markets, is the leading candidate for the position, said the source, who is familiar with the matter, but not authorized to speak about it publicly.
Nothing has been announced by the banks and final negotiations are continuing, the source added.
