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October 13, 2015 3:03 PM ET

Capital Markets

Company Overview of BlackRock Advisors, LLC

Company Overview

BlackRock Advisors, LLC is a privately owned investment manager. The firm primarily provides its services to investment companies. It also caters to pooled investment vehicles, government agencies, and quasi-government agencies. The firm manages separate client-focused equity, fixed income, and multi-asset portfolios. It launches and manages equity, fixed income, balanced, commodity, and multi-asset mutual funds. The firm also launches and manages hedge funds and private funds. It invests in the public equity and fixed income markets. The firm also invests in alternative markets, including commodity markets. It was founded on September 23, 1994 and is based in Wilmington, Delaware, with addi...

100 Bellevue Parkway

Wilmington, DE 19809

United States

Founded in 1994





Key Executives for BlackRock Advisors, LLC

Chief Executive Officer, Senior Managing Director, Chairman, and Director
Age: 62
President, Principal, Senior Managing Director, and Director
Age: 59
Chief Financial Officer, Principal, and Senior Managing Director
Age: 52
Chief Operating Officer
Age: 41
Senior Managing Director and General Counsel
Age: 71
Compensation as of Fiscal Year 2015.

BlackRock Advisors, LLC Key Developments

Securities and Exchange Commission Charges Blackrock Advisors LLC with Breaching its Fiduciary Duty

The Securities and Exchange Commission charged BlackRock Advisors LLC with breaching its fiduciary duty by failing to disclose a conflict of interest created by the outside business activity of a top-performing portfolio manager. BlackRock agreed to settle the charges and pay a $12 million penalty. The firm also must engage an independent compliance consultant to conduct an internal review. According to the SEC’s order instituting a settled administrative proceeding, Daniel J. Rice III was managing energy-focused funds and separately managed accounts at BlackRock when he founded Rice Energy. Rice was the general partner of Rice Energy and personally invested approximately $50 million in the company. Rice Energy later formed a joint venture with a publicly-traded coal company that eventually became the holding (almost 10 percent) in the $1.7 billion BlackRock Energy & Resources Portfolio, the Rice-managed fund. The SEC’s order finds that BlackRock knew and approved of Rice’s investment and involvement with Rice Energy as well as the joint venture, but failed to disclose this conflict of interest to either the boards of the BlackRock registered funds or its advisory clients. The SEC’s order also finds that BlackRock and its then-chief compliance officer Bartholomew A. Battista caused the funds’ failure to report a ‘material compliance matter’ – namely Rice’s violations of BlackRock’s private investment policy to their boards of directors. BlackRock additionally failed to adopt and implement policies and procedures for outside activities of employees, and Battista caused this failure. Battista agreed to pay a $60,000 penalty to settle the charges against him. BlackRock agreed to be censured and consented to the entry of the SEC’s order finding that the firm willfully violated Sections 206(2) and 206(4) of the Investment Advisers Act of 1940 and Rule 206(4)-7. The order finds that the firm caused violations of Rule 38a-1 of the Investment Company Act of 1940. Battista also consented to the entry of the order finding that he caused violations of Section 206(4) of the Advisers Act, Rule 206(4)-7, and Rule 38a-1. BlackRock and Battista are required to cease and desist from committing or causing any further violations. BlackRock and Battista neither admitted nor denied the findings. The SEC’s investigation was conducted by Janene M. Smith, David A. Becker, and Brian E. Fitzpatrick and supervised by Jeffrey B. Finnell of the SEC Enforcement Division’s Asset Management Unit.

BlackRock Advisors, LLC Presents at JPMorgan Securitized Products Research Conference, Mar-12-2015 04:00 PM

BlackRock Advisors, LLC Presents at JPMorgan Securitized Products Research Conference, Mar-12-2015 04:00 PM. Venue: 383 Madison Avenue, New York, New York, United States. Speakers: Samir Lakhani.

The Ohio Tuition Trust Authority Signs on Seven Year Contract with Blackrock Advisors, LLC

The Ohio Tuition Trust Authority has signed a seven year contract with BlackRock Advisors, LLC to continue to provide program management of the CollegeAdvantage Advisor 529 Savings Plan, offered and marketed by BlackRock and sold through financial advisors. As a result of the contract renewal, several changes to the BlackRock CollegeAdvantage 529 Plan were implemented and are reflected in the updated program description and participation agreement, dated July 16, 2014. These changes include: reduction in certain customer fees: The annual program management fee has been reduced from 0.20% to 0.19% (with further reductions at specified asset thresholds) and the Class A initial sales charge has been reduced from 5.75% to 5.25% for certain investment options. Additionally, the state fee was previously reduced from 0.10% to 0.04%. New investment options to further diversify client portfolios: BlackRock Multi-Asset Income and BlackRock Strategic Income Opportunities options have been added to the investment menu, offering clients the ability to invest in flexible multi-asset and fixed income strategies.

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