Equities

Reuters exclusively reports BlackRock injecting billions into European firms

Reuters exclusively reports BlackRock injecting billions into European firms

Reuters exclusively reported that the world’s biggest asset manager BlackRock has pumped about 16 billion euros ($18 billion) into 810 European companies since the end of January, more than half of them in distress due to the coronavirus pandemic. Companies across the world have looked to banks and asset managers to help provide emergency funding since the pandemic spurred most leading economies to lock down citizens, crippling many businesses. Since the end of January, BlackRock had provided around 3 billion euros in equity and 13 billion euros in credit to new and existing investee companies, with just over half of the firms raising money after a big hit from the virus.