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Temasek Holdings adds 3.9% stake in BlackRock for US$3.5 bil; becomes one of BlackRock's largest shareholders

Bloomberg
Bloomberg8/17/2020 9:45 AM GMT+08  • 2 min read
Temasek Holdings adds 3.9% stake in BlackRock for US$3.5 bil; becomes one of BlackRock's largest shareholders
The investment has already paid dividends for Temasek, with BlackRock rising 8.4% since June 30, closing Thursday at US$589.56 in New York.
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Singapore’s Temasek Holdings Pte. has become one of the largest shareholders of BlackRock Inc. after it added a 3.9% stake in the money manager that’s worth about US$3.5 billion ($4.80 billion).

See also: Temasek Holdings and other investors increase holdings in BlackRock after PNC exit

The state-owned investor was one of several players that bought BlackRock shares when PNC Financial Services Group Inc. sold a US$14 billion stake this year, according to people familiar with the matter. Temasek added 5.95 million shares in the second quarter, according to its 13F filings Friday with the US Securities and Exchange Commission.

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