BlackRock has completed its acquisition of the fund of hedge funds business of Quellos Group, which will be combined with the asset manager’s own fund of funds platform under the name Blac
BlackRock has completed its acquisition of the fund of hedge funds business of Quellos Group, which will be combined with the asset manager’s own fund of funds platform under the name BlackRock Alternative Advisors.
‘BlackRock and Quellos employees have worked together over the past three months to effect a smooth and seamless transition for clients while delivering competitive investment results and laying the foundation for a unified platform,’ says BlackRock chairman and chief executive Laurence Fink.
‘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.
‘The market mood 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.’
BlackRock is one of the world’s largest publicly-traded investment managers with USD1.23trn in assets under management at the end of June on behalf of institutions and individuals worldwide.
Institutional investors use BlackRock Solutions’ investment system, risk management and financial advisory services. Based in New York, the firm has approximately 5,000 employees in 18 countries and a major presence in key global markets including the US, Europe, Asia, Australia and the Middle East.
