Credit crunch deals fair hand to BlackRock

BlackRock has emerged as something of an asset management bellwether. It's narrow earnings miss in the first quarter was not seen as any cause for alarm. In many ways, the crisis has been good for the company. True, it had to take $24 million in losses on co-investments in real estate and hedge funds, notes Financial News Online. But look at its new business development. The pipeline is flowing, as it added $62.5 billion in long-term portfolio liquidation assignments. The company is aggressively hiring to staff these assignments, all of which generate revenue. CEO Larry Fink is promising something "very large" in the second quarter in this area.    

For more:
- here's the Financial News Online article

Related Articles:
BlackRock affected by crisis?
BlackRock thrives amid crisis
Larry Fink's star keeps rising