BlackRock to acquire SpiderRock Advisors, terms not disclosed

BlackRock has agreed to acquire the remaining equity interest in SpiderRock Advisors, a provider of customized option overlay strategies in the U.S. wealth market. This transaction expands on BlackRock’s minority investment in SRA made in 2021 and reinforces BlackRock’s commitment to personalized separately managed accounts, or SMAs, the company stated. “By giving BlackRock more SMA capabilities, this acquisition will enable us to meet growing demand from wealth managers for personalized, tax-efficient portfolios. We look forward to fully integrating SRA’s team and capabilities into our U.S. Wealth Advisory business and to further expanding our offerings in SMA solutions,” said Joe DeVico, Co-Head of BlackRock’s U.S. Wealth Advisory business. The transaction, expected to close in Q2, is subject to customary closing conditions. The financial impact of the transaction is not material to BlackRock earnings. Financial terms were not disclosed.