The deal was announced in January, and acts as part of a divestment strategy for Credit Suisse, and an expansion exercise for BlackRock which is keen to expand its presence in the Swiss market.
Credit Suisse’s business had 58 funds, and AUM of CHF 16bn as of November last year. All the funds would retain their names, mandates and indices as part of the agreement.
The combined range would consist of 264 ETFs and $157.6bn in AUM.
Earlier today BlackRock revealed it has seen a 16% increase in ETF assets on platforms during the first quarter of the year.
The deal has been cleared by the Irish Competition Authority, but the OFT has made the decision to extended its review period.
As reported a few days ago, BlackRock announced it had acquired US private real estate firm MPGA in a deal that will bring its global real estate assets to $25bn.
