Hazeltree partners with BlackRock to automate cash sweeps
Hazeltree, a provider of integrated buy-side treasury management solutions, has added BlackRock to the partner network of Hazeltree LiquidityWeb, an integrated cash management and sweep platform.
The partnership provides mutual clients with an efficient way to manage cash and sweep unencumbered free cash to BlackRock money market funds.
Treasurers look to BlackRock for investment solutions that seek to meet their cash needs of safety, liquidity and yield. Over multiple interest rate cycles and varying market conditions, BlackRock has managed cash portfolios for many types of institutional investors including corporations, banks, insurance companies, private equity firms, and hedge funds.
BlackRock has USD374.7 billion in global liquidity assets across multiple currencies as of 30 June 2016.
The partnership provides a straight-through-process between buy-side firms and BlackRock funds, which will be accessible via Hazeltree LiquidityWeb.
“Our partnership with Hazeltree reflects our commitment to helping our clients succeed in this demanding environment in their short-term investment needs," says Tom Callahan (pictured), head of BlackRock’s global cash management business.
"Designed to offer treasurers an integrated view of all their cash positions, Hazeltree LiquidityWeb offers an efficient way to manage cash and sweep unencumbered free cash to money market funds,” says Sameer Shalaby, president and chief executive officer of Hazeltree. “We welcome BlackRock to our expanding partner network and look forward to collaborating with them to provide our clients money market fund products.”
Hazeltree LiquidityWeb provides an efficient and secure interface to sweep excess cash to a wide range of liquidity products through Hazeltree’s partner network, which now includes BlackRock money market funds. With a single click, clients can subscribe, wire money to fund their purchase, and post their transaction to their internal general ledger. Similarly, they can redeem, receive their funds and update their general ledger.
Hazeltree LiquidityWeb is offered as a standalone solution or integrated into Hazeltree’s treasury management platform.