Exclusive | BlackRock and Trump ally Larry Fink look to make war-torn Ukraine great again
DAVOS, Switzerland – BlackRock, the world’s largest money manager, has recently been in talks with various governments about potential investment opportunities in Ukraine – despite the war with Russia that shows no sign of ending anytime soon, On The Money has learned.News of BlackRock and its voluble CEO Larry Fink’s role in mediating investment opportunities in Ukraine with foreign governments including sovereign wealth funds hasn’t been previously reported.A press official for BlackRock declined to comment on the negotiations. “(BlackRock) is advising a bunch of governments on how to figure out ways to attract capital to Ukraine,” said a person with direct knowledge of the matter.
“(The firm) is helping everyone think through all the various sectors and industries that could attract foreign capital.”The person described the discussions as early stage talks, and a transition from the firm’s previous role as financial adviser to the country, which has been put on hold as its war with Russia entered its third straight year with President Trump unable to broker a peace.The plan is to attract capital — including money from sovereign wealth funds — to seed an $800 billion reconstruction fund, On The Money has learned.
The talks are starting to heat up as top financiers and world leaders this week gather here at the home of the World Economic Forum, where Fink is serving as the conference’s “chairman” after the ousting last year of longtime forum chief Klaus Schwab over alleged financial and workplace improprieties.Investors and world leaders — such as Middle East sovereign wealth funds that Fink is close to – like the potential investment opportunities in Ukraine because of its educated workforce and the resiliency of its people.Trump and Ukraine President Volodymyr Zelensky struck a deal over the excavation of rare earth minerals that could be a boon for business if it ever gets off the ground.But major obstacles in attracting inv...