PNC bought into BlackRock in 1995 for roughly $240m, and the stake has yielded handsomely — the shares are worth roughly $17bn today

Former Reporter

BlackRock’s largest shareholder, PNC Financial Services Group, said it is exiting its stake in the firm, ending a lucrative yearslong wager on the world’s largest money manager.

PNC Financial Services Group currently owns a roughly 22% stake in BlackRock.

BlackRock’s biggest investor PNC to sell off 22% stake

Dawn Lim

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