BlackRock Buys Credit Suisse Exchange-Traded Funds Unit

Law360, New York (January 10, 2013, 2:31 PM EST) -- Global investment manager BlackRock Inc. will buy the exchange-traded funds branch of Credit Suisse AG, strengthening BlackRock's European presence and helping Credit Suisse’s push to meet stronger global capital requirements, the pair said Thursday.

Neither BlackRock nor Credit Suisse disclosed the financial terms of the transaction, which is expected to close in the second quarter pending regulatory approval. The ETF unit trading hands in the sale has $17.5 billion under management, according to bank numbers.

For New York-based BlackRock, one of the world’s biggest investment managers,...
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