Fed selects BlackRock to manage asset purchases

The Federal Reserve has chosen asset manager BlackRock to run three recently launched facilities designed to support funding markets, a move reminiscent of action taken during the 2008 crisis.

BlackRock’s financial markets advisory, a consultancy arm of the firm, will act as the investment manager for the special purpose vehicles (SPVs) called the Primary Market Corporate Credit Facility and the Secondary Market Corporate Credit Facility (SMCCF).

The Fed will lend to the two SPVs and BlackRock

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