World's Largest Asset Manager Rebounds After Rocky Early 2016
Asset management giant BlackRock’s market value sunk over $8B in the economic turmoil that kicked off 2016. But the investor has made it all up—and then some—with market cap rising over $9B from its January low.
The world’s largest asset manager wasn’t the only one that stumbled into the new year. Private equity giants from Blackstone to KKR saw their profits tumble up to 70% as they closed out Q4.
But BlackRock seems to be on the upswing, which is more than can be said for the world’s largest landlord, Blackstone, whose market cap has sunk $3B since the beginning of the year.
Now might be a good time to put cash into BlackRock. Heck, it may even be a bargain, even with its recent upswing. Analysts are predicting a pleasant surprise on the investment giant’s Q1 earnings call tomorrow.
And BlackRock CEO Larry Fink is getting his cake, too, from leading his company out of its slump: Fink recently got an 8% raise, bringing total pay to $26M.
It's good to be a CEO.
