Nov
18
BlackRock to Wind Down Macro Hedge Fund
By
Laurence Fink, chairman and chief executive of BlackRock. CreditRuben Sprich/Reuters
BlackRock, the world’s biggest asset manager, is closing a billion-dollar hedge fund that made money for investors with bets on macroeconomic trends around the world.
The BlackRock Global Ascent hedge fund has lost 9.4 percent this year and investors in the $1 billion fund were notified over the last week that it would be closed down, according to a person with direct knowledge of the firm’s decision. The hedge fund — which as recently as two years ago had $4.6 billion in assets under management — is now almost completely cashed out, that person said…
BlackRock to Wind Down Macro Hedge Fund
