BlackRock Bets $1 Billion on Personalized Index Investing
- Aperio runs about $36 billion in separately managed accounts
- Personalized indexes gaining popularity for wealthy investors
BlackRock Inc. headquarters in New York.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
BlackRock Inc. is betting on the future of personalized index investing.
The world’s biggest asset manager agreed to buy Aperio, a creator of tailored index strategies, from private equity firm Golden Gate Capital and Aperio employees for $1.05 billion in cash, according to a statement Monday. Sausalito, California-based Aperio oversaw about $36 billion in assets as of Sept. 30 for ultra-wealthy clients and institutions.