BlackRock held partnership talks with Warburg Pincus – FT
2023.12.21 19:01
© Reuters. FILE PHOTO: The company logo and trading information for BlackRock is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 30, 2017. REUTERS/Brendan McDermid/File Photo
(Reuters) – The world’s largest asset management firm BlackRock (NYSE:) held partnership talks with U.S.-based private equity firm Warburg Pincus nearly two years ago, the Financial Times reported on Thursday citing at least five people briefed on the matter.
The talks failed over competing visions as BlackRock wanted a majority stake in the firm, but Warburg Pincus had no desire to relinquish control, according to the report.
Discussions about a potential partnership between the two companies were serious but short-lived and never reached the point of discussing a price or a formal structure, the report added.
BlackRock and Warburg Pincus declined to comment.
