BlackRock, an American multinational investment management corporation, announced its plans to acquire the remaining equity of SpiderRock Advisors, a U.S. firm specializing in custom option overlay strategies for the wealth market. The acquisition's specific financial details were not revealed.
Scheduled to finalize in the second quarter of 2024, this acquisition is conditional, subject to customary closing arrangements. However, BlackRock affirmed that this course of action would not cause any significant impact on the company's earnings.
As of February 2024, SpiderRock Advisors managed client assets worth approximately $4.8 billion. They offer specialized SMA strategies, aimed at income and risk management. This includes the management of both individual securities and diversified portfolios, utilizing derivative overlay strategies. These services are available through RIAs, family offices, national broker or dealers, and at institutional platforms.
