BlackRock Makes Multi-Billion Purchase, Second Within Past Few Months

Financial Times reports that BlackRock, Inc. (NYSE:BLK) is adding a big acquisition to its bag by buying Swiss Re Ltd. (PINK:SSREY) (PINK:SSREF)'s private equity unit that is worth $7.5billion. This deal will not only double  BlackRock, Inc. (NYSE:BLK)'s equity funds but will also make it a leader in private equity fund managers. BlackRock already holds the title of world's largest asset manager, now it is all set to expand its hold in the investment banking field as well.

Previously (in May of this year) the Bristish bank Barclays Plc (NYSE:BCS) had announced its solid intention to sell $6.1...