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11/24/2020, 2:47 AM (Source: TeleTrader)
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BlackRock to buy Aperio for $1.05 billion

BlackRock, Inc. announced that it entered a definitive agreement to buy Aperio from Golden Gate Capital and Aperio employees for $1.05 billion in an all-cash deal.

The acquisition will be funded from existing corporate liquidity and is expected to close in the first quarter of 2021, according to BlackRock.

Following the transaction, Aperio, which specializes in transforming wealth management by elevating index investing through hyper-customization, tax optimization and values-aligned investing, will become a part of BlackRock's United States Wealth Advisory division.

Breaking the News / NP