BlackRock has agreed to acquire the remaining equity interest in SpiderRock Advisors (SRA), a leading provider of customized option overlay strategies in the U.S. wealth market. This transaction expands on BlackRock’s minority investment in SRA made in 2021 and reinforces BlackRock’s commitment to personalized separately managed accounts (SMAs).
“By giving BlackRock more SMA capabilities, this acquisition will enable us to meet growing demand from wealth managers for personalized, tax-efficient portfolios. We look forward to fully integrating SRA’s team and capabilities into our U.S. wealth advisory business and to further expanding our offerings in SMA solutions,” said Joe DeVico, co-head of BlackRock's U.S. wealth advisory business.
SMAs are one of the fastest-growing product segments in the U.S. wealth industry. They are expected to grow from $2.7 trillion in assets under management as of third quarter 2023 to $4 trillion by 2026, according to Cerulli Asso
