Investment manager ""BlackRock, Inc."":http://www.blackrock.com said Tuesday that it has acquired ""substantially all of the assets"" of Charlotte, North Carolina-based ""Helix Financial Group"":http://www.helixfinancial.com, a boutique[IMAGE]commercial real estate firm that offers advisory and asset valuation services to lenders and investors.
As part of the transaction, which closed January 15, BlackRock also received a majority equity stake in Helix by purchasing shares in the company from ""AllBridge Investments,"":http://www.allbridgeinv.com, formerly the company's lead stakeholder; Helix management; and other stakeholders.
The terms of the deal were not disclosed, but BlackRock says the acquisition of Helix will allow the New York-based
[COLUMN_BREAK]money manager to further expand its commercial real estate capabilities and offerings. Helix will be integrated into BlackRock Solutions, a unit that helps institutions manage capital markets exposures and risks. BlackRock Solutions has processed over $8 trillion in assets through its proprietary Aladdin enterprise investment platform.
Since its founding in 2004, Helix Financial has underwritten more than $100 billion in commercial real estate loans, BlackRock said in a statement. Helix has also developed a loan-level database and credit modeling system that allows investors to analyze property cash flows, loan defaults, and losses. The company has 120 employees, as well as off-shore staff in Gurgaon, India.
""We look forward to integrating Helix's professionals into our modeling, advisory, valuation, and loan workout practice,"" commented Craig S. Phillips, managing director and global head of the financial markets advisory group in BlackRock Solutions. ""In addition to valuable industry relationships and asset class experience, Helix has unique technology, data, and intellectual capital that will supplement our present commercial real estate analytics and workout capabilities.""
Shares of BlackRock Inc. rose 0.28 percent on Tuesday following the news.