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BlackRock to Raise Up to $5 Billion for Toxic Assets
Topics:Politics & Government | Treasury Department | Stock Market | Toxic Assets | Banking
Sectors:Financial Services | Banks
Companies:BlackRock, Inc.
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Asset manager BlackRock plans to raise between $4 billion and $5 billion for a U.S. federal program that disposes of toxic assets, a spokeswoman said.
That would be far above the minimum investment required under the Treasury Department's Legacy Securities Public-Private Investment Program.
BlackRock [BLK
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] spokeswoman Bobbi Collins said the firm will raise the money through financing, private capital and government funds.
Copyright 2009 Reuters. Click for restrictions.
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