What You Need to Know
- The deal follows BlackRock's acquisition of SMA provider Aperio in early 2021.
- SpiderRock is a $2.5 billion provider of customized options strategies for U.S. wealth managers.
- SpiderRock's strategies, available through RIA custodians, are focused on risk management and yield enhancement.
BlackRock has taken a minority stake in SpiderRock Advisors, a $2.5 billion Chicago-based provider of customized options strategies for U.S. wealth managers, to expand its SMA capabilities.
The “strategic venture,” as BlackRock calls it, will help expand BlackRock’s separately managed account capabilities, and it follows the firm’s acquisition of Aperio, a provider of customized, tax-optimized index equity SMAs, earlier this year.
Terms of the deal with SpiderRock Advisors were not disclosed.
SpiderRock’s strategies are available through major RIA custodians and are focused on risk management and yield enhancement for diversified portfolios as well as concentrated stock positions, according to BlackRock.
The market leaders and consultants in BlackRock’s U.S. Wealth Advisory will serve as the primary distribution and marketing team to introduce SpiderRock’s advisory services and strategies to wealth firms and financial advisors.