Governor Crist Briefed on Status of Florida’s Investment Funds Held At BlackRock Financial♦
Sep 25, 2008
Florida Governor Charlie Crist, in his capacity as a Trustee for the State Board of Administration (“SBA”), today, September 25, 2008, met with leaders of BlackRock Financial to discuss the status of Florida’s investment funds.
BlackRock currently manages $7.7 billion in Florida investments, including $3.3 billion in SBA funds.
Governor Crist’s press release is below.
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Governor Crist Meets with BlackRock, Briefed on Status of Florida’s Investment Funds
Taxpayers’ investments sound in spite of Wall Street’s recent fluctuations
NEW YORK CITY – Governor Charlie Crist, a Trustee for the State Board of Administration (SBA), today met with leaders of BlackRock Financial to discuss the status of Florida’s investment funds. BlackRock manages $7.7 billion in Florida investments, including $3.3 billion in SBA funds.
“As a Trustee of the State Board of Administration, I am concerned that the funds invested by the people of Florida are protected so that the future of our people is secure,” Governor Crist said. “It is essential that our investments remain steady as we work toward a stronger economic future.”
BlackRock was instrumental in guiding the Local Government Investment Pool, which is managed by the SBA, through the liquidity event of November 2007. Under their guidance, the pool was split into Funds A & B, which set the stage for the A fund to receive and maintain a ‘AAAm’ rating. Governor Crist met today with Robert Kapito, president and a director; Barabara Novick, vice chair; and Tom Goodrum, managing director of BlackRock.
BlackRock also holds real estate investments in Florida, which creates investment in Florida by other investment funds managed by BlackRock. Properties held in the fund are located in Palm Beach, Collier, Broward, Miami-Dade, Duval, Pinellas and Hillsborough counties.
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