×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: BlueSpruce | Hurd | BlackRock | Pimco

BlueSpruce's Hurd: BlackRock Luring Former Pimco Investors

Thursday, 06 November 2014 08:21 PM EST

Tim Hurd, president of BlueSpruce Investments LP, recommended BlackRock Inc., citing its exchange-traded funds business.

“One of the great things about BlackRock is that it’s a diversified company,” he said at the Invest for Kids Conference in Chicago today. He said it’s a “myth” that BlackRock, the world’s largest money manager, is too big to grow.

BlackRock is among BlueSpruce’s top five U.S.-listed holdings, according to government filings. BlueSpruce owned 56.7 million BlackRock shares valued at $290.3 million at the end of June, filings show.

BlackRock is benefiting from new business from investors who are pulling money from Pacific Investment Management Co. LLC following the departure of bond manager Bill Gross. “Pimco is the gift that keeps on giving,” Hurd said.

Hurd, a former managing director at buyout firm Madison Dearborn Partners LLC, started Chicago-based BlueSpruce last year and has $375 million in assets.

© Copyright 2024 Bloomberg News. All rights reserved.


InvestingAnalysis
Tim Hurd, president of BlueSpruce Investments LP, recommended BlackRock Inc., citing its exchange-traded funds business.
BlueSpruce, Hurd, BlackRock, Pimco
144
2014-21-06
Thursday, 06 November 2014 08:21 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved