BlackRock Has $1.3 Billion Pay Pot to Retain New Rainmakers
- Fink’s business bought smaller alternative investing firms
- Asset management giant aims to integrate colleagues at outset
Larry Fink
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
Larry Fink is shelling out about $25 billion in the space of a year to turn BlackRock Inc. into a top-five player in infrastructure and private credit. Now he’s focused on enticing the firm’s newest rainmakers to stay on board.
Across the purchases of private credit firm HPS Investment Partners and Global Infrastructure Partners this year, BlackRock set aside $1.33 billion for retention packages, about $1 million per new employee. Those teams are also keeping a large chunk of the carried interest from their existing strategies.