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March 29, 2022

BlackRock secures deal to manage AIG’s $150bn assets

American International Group has brokered a deal with BlackRock to manage up to $150bn of its fixed-income and private-placement assets.  

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As per the agreement, BlackRock will manage up to $60bn of the insurer’s global investment portfolio and as much as $90bn of its life and retirement investment portfolio.

Furthermore, the asset manager’s Aladdin platform will offer investment management technology for both AIG and its life and retirement unit.

AIG chairman and CEO Peter Zaffino said: “Partnering with an asset manager like BlackRock represents a continuation of our strategy to work with world class organisations as we deliver on excellence at AIG.

“BlackRock has an outstanding performance track record and world class risk analytics through its Aladdin platform.”

“For Life & Retirement, the partnership with BlackRock creates both strategic and operating flexibility as we reposition asset management and prepare the business to be a standalone company,” Zaffino added.

The American insurance giant noted that the deal will with BlackRock will be implemented in phases across its global operations.

BlackRock president Rob Kapito said: “BlackRock is honoured to have been selected to serve AIG as a strategic partner. We look forward to leveraging our investment expertise, scale, and technology capabilities for the benefit of all of AIG’s stakeholders.  

“I have enormous respect and admiration for AIG, and I am confident in the long-term value BlackRock will deliver as we embark on this journey together.”

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2021 was a record-breaking year, with more businesses breaking into the billion-dollar club. Many start-ups have achieved or retained the unicorn status by the end of the year to reflect nearly a fivefold growth from that in 2020. This boom can be linked to a financing frenzy spurred by the quick adoption of technology and innovative solutions by start-ups gaining traction in response to the pandemic. However, the start-up ecosystem is now facing turbulent times for fundraising as investors seek long-term business strategies, valuations, and a route to profitability amid uncertain market circumstances. Nevertheless, 2022 has the potential to carry forward the momentum with multiple entities having a fair chance of being in the right place when aided by the right technologies. GlobalData leverages the power of alternative data to examine the health of start-ups across multiple dimensions including the quality of their innovations, market presence, and the funding they can attract. This helps our clients to analyze the disruptive potential of start-ups for early alliances, investments, and acquisition prospects to develop future-proof strategic roadmaps for a competitive advantage. Read our report and gather insights on the following topics:
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  • Start-ups to watch out for
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