BlackRock Inc. said it’s acquiring SpiderRock Advisors, an asset-management and technology firm, to expand its customized investing strategies to wealthy clients.
The deal will increase BlackRock’s ability to offer tax-efficient investment services — especially those that rely on options trading, BlackRock said in a statement Friday. In 2021, the asset manager made a minority investment SpiderRock, which oversees about $4.8 billion of assets for investment advisers, family offices and other clients.