BlackRock, the world’s largest asset manager with $4.65 trillion under management, said it is developing “scalable, innovative investment solutions that also meet clients’ desired societal outcomes.” It named Deborah Winshel, formerly of the Robin Hood Foundation, as the first head of BlackRock Impact.
“Many clients are looking for investment opportunities that advance social and financial goals at the same time,” BlackRock CEO Laurence Fink said in a statement.
BlackRock said it already manages more than $225 billion in strategies designed to align clients’ portfolios with their values and has participated in more than $1 billion of green bonds. “BlackRock is uniquely positioned to serve investors who are interested in combining outcome-oriented societal benefits with their investment objectives,” Winshel, who served as Robin Hood’s president and chief operating ufficer, said in a statement.
BlackRock’s move highlights the client demand financial services providers are feeling for impact-oriented strategies. TheUS Trust Wealth and Worth Insights Report found two-thirds of that bank’s high net-worth clients are seeking investments that proactively pursue social and environmental returns.