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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.

BlackRock Inc. headquarters in New York.

Photographer: Jeenah Moon/Bloomberg

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.