By Jack Pitcher
Larry Fink thinks the global economy will be just fine.
Speaking at a conference in Houston Tuesday, the BlackRock CEO said long-term optimism underpinned his decision to acquire more than 40 ports in 22 countries from Hong Kong-based CK Hutchison.
"If you believe the world can grow at 2 or 3%, maybe 3.5% a year, even with tariffs and other things, that means the ports are going to be quite active," Fink said.
"We are a firm believer that the world economies over a long cycle are going to be fine," he added. "The need for global trade is only going to be larger and stronger, not weaker."
A BlackRock-led consortium announced last week it has agreed to purchase the port assets for $22.8 billion, the largest acquisition of private infrastructure the asset manager has ever done.
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(END) Dow Jones Newswires
March 10, 2025 15:51 ET (19:51 GMT)
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