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BlackRock sees opportunity to grow as rates rise
December 7, 2016 / 3:20 PM / a year ago

BlackRock sees opportunity to grow as rates rise

NEW YORK, Dec 7 (Reuters) - A top BlackRock Inc executive said the company could benefit from rising rates as its institutional clients keep their stakes in fixed income and as revenues from other businesses grow.

BlackRock Inc CFO Gary Shedlin, speaking at a Goldman Sachs event, said the company could earn more revenues from its securities lending and money-market funds businesses as rates rise and that it is “under-penetrated” in relatively high-fee hedge funds, private equity and infrastructure businesses that can also grow. (Reporting by Trevor Hunnicutt Editing by W Simon)

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