BlackRock’s $32 Billion Hedge-Fund Business Has a Little ProblemBy
Macro fund loss, market turmoil threaten Fink’s ambitious push
At least a dozen of its fund strategies manage less than $1B
Yes, he runs the biggest asset management firm the world has ever seen. But right now, Laurence D. Fink has a little hedge-fund problem.
Fink’s BlackRock Inc., the $4.5 trillion behemoth known for its mutual funds and ETFs, threw in the towel on a macro hedge fund last month in a setback that one of the company’s executives described as a “huge disappointment.”…
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