10:00 AM EDT, 06/26/2024 (MT Newswires) -- (Updates with additional information.)

BlackRock ( BLK ) said Tuesday it is partnering with financial technology firm GeoWealth to meet demand from wealthy clients for private markets, direct indexing and fixed income separately managed accounts.

The initiative aims to simplify access to diversified, personalized, and tax-efficient strategies and will expand BlackRock's ( BLK ) models segment, which has generated $31 billion in new assets over the past four years, BlackRock ( BLK ) said.

Financial terms of the partnership were not disclosed.

Shares of BlackRock ( BLK ) were down 0.6% in recent trading.

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