CORRECTED-(OFFICIAL)-UPDATE 1-BlackRock to raise up to $5 bln

Wed Jul 8, 2009 11:59pm BST
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(Please read in first paragraph, between $4 billion and $5 billion, instead of between $2 billion and $2.5 billion, to comply with an official correction from the company)

* BlackRock to raise far above minimum investment

* Amount includes government funds

BOSTON, July 8 (Reuters) - Asset manager BlackRock Inc (BLK.N: Quote, Profile, Research) plans to raise between $4 billion and $5 billion for a U.S. federal program that disposes of toxic assets, a spokeswoman said.

That would be far above the minimum investment required under the Treasury Department's Legacy Securities Public-Private Investment Program.

BlackRock spokeswoman Bobbi Collins said the firm will raise the money through financing, private capital and government funds. (Reporting by Ross Kerber; editing by Andre Grenon)

 
 

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