Curious for folks' views as my wife is considering a pivot to BlackRock - With BlackRock closing out the year having acquired HPS, GIP, & Preqin, + a potential Millennium minority investment on the horizon, how do you regard the firm against the premier investment banks (GS/MS) and/or Alts firms (Blackstone/Apollo/KKR/CG)?
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BlackRock is increasingly positioning itself as a powerhouse in the financial world, particularly with its recent acquisitions of HPS, GIP, and Preqin, and the potential Millennium minority investment. These moves highlight its ambition to expand its footprint across asset classes and alternative investments, aligning it more closely with firms like Blackstone, Apollo, and KKR, which dominate the alternatives space.
In terms of prestige and external perception: - Against Premier Investment Banks (GS/MS): BlackRock is not a direct competitor to Goldman Sachs or Morgan Stanley in traditional investment banking services like M&A advisory or capital markets. However, its reputation as the world's largest asset manager, coupled with its growing alternatives platform, gives it a unique prestige. While GS/MS are seen as dealmakers, BlackRock is viewed as a long-term asset management titan with unparalleled scale and influence in the global financial ecosystem.
Overall, BlackRock's prestige is rooted in its dominance in asset management and its growing influence in alternatives. For someone considering a pivot to BlackRock, it offers a unique blend of stability, innovation, and long-term growth potential, making it an attractive option depending on career goals.
Sources: Apollo is revamping recruiting and softening its culture. Here's a look., BlackRock Raising a $10-$20bn direct PE investment fund, “Long Term Private Capital”, 2017 Private Equity Report – 8 Category Highlights, Official Investment Banking Rankings: Boutique and Bulge Bracket Prestige, Real Estate Q&A
It entirely depends on which group within BlackRock.
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