01:39 PM EDT, 03/19/2024 (MT Newswires) -- (Updates to add detail in the third paragraph and a request for comments to BlackRock ( BLK ) in the fourth paragraph.)

BlackRock ( BLK ) was informed Tuesday that the Texas Permanent School Fund is ending the asset manager's management of roughly $8.5 billion in assets, the chairman of the State Board of Education said.

"Terminating BlackRock's ( BLK ) contract ensures PSF's full compliance with Texas law," said Chairman Aaron Kinsey.

Kinsey said that the Texas Government Code "prohibits state investment in companies like BlackRock ( BLK ) that boycott energy companies."

BlackRock ( BLK ) didn't immediately respond to a request for comment from MT Newswires.

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