(Bloomberg) -- BlackRock Inc. Chief Executive Officer Larry Fink said he’s open to more acquisitions, as the world’s largest asset manager increasingly seeks to position itself as a one-stop shop for investors.Most Read from BloombergPakistan Rupee Set to Become Top Performing Currency Globally Biden Impeachment Hearing Heavy on Politics, Light on SubstanceUAW Aims For At Least 30% Wage Bump to Woo New MembersTop Chinese Scientist Claims India Moon Landing Nowhere Near South Pole‘Fortnite’ Maker
“I do see some very large opportunities for inorganic growth,” Fink told Bloomberg Television’s Dani Burger at the Berlin Global Dialogue forum on Friday.
After dominating stocks and debt investing for years, BlackRock — which now oversees $9.4 trillion — has been offering not only listed equity and bond funds but also private-asset strategies as well as tech, data, analytics and financial markets advice to clients. As part of the alternatives strategy, it announced the purchase of London-based private debt manager Kreos Capital this year.
Private money has a crucial role to play as most democracies grapple with elevated fiscal deficits and hit the threshold of excess debt, Fink said in the interview on Friday. While warning of a crisis, he said the only solution is to reorient and reimagine how their growth is financed.“The way we’re going to be able to finance growth is public to private,” he said. “There’s so much private money looking for great long-term investments.
All of this means that businesses will be moving more aggressively toward technology in pursuit of productivity, whether it’s by using more robotics or artificial intelligence, he said. However, AI could hurt some of the fastest-growing economies the most because they will see the greatest number of job losses, he added.
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