US fund manager BlackRock takes 5 percent stake in SkyCity

Tue, 14 Jan 2014

By Paul McBeth Jan. 15 (BusinessDesk) - US fund manager BlackRock, which manages more than US$4.1 trillion in assets worldwide, has built up a 5 percent stake in trans-Tasman casino and hotel operator SkyCity Entertainment Group. BlackRock Investment Management (Australia) declared the shareholding in SkyCity today, with almost 29.1 million shares, or 5.01 percent of the company, making the third fund manager to build a substantial investment in the Auckland-based company after fund managers Lazard Asset Management Pacific and Investors Mut...

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