海角视频

Oops.

Our website is temporarily unavailable in your location.

We are working hard to get it back online.

PRIVACY
Retail & Consumer

World鈥檚 biggest fund manager BlackRock increases stake in The Hut Group

BlackRock is a long-time investor in the group

Matthew Moulding, Executive Chairman, The Hut Group

The world’s biggest fund manager, which until recently employed former Chancellor George Osborne, has increased its stake in Manchester-based e-commerce giant The Hut Group.

BlackRock, which is based in the US, is a long-time investor in the listed group and has upped its holdings to almost 10%.

According to newly filed documents to the London Stock Exchange, BlackRock now has a 9.73% stake, up from 6.17%.

The Hut Group, which completed its initial public offering last year, raised £830m in December 2019 which included £6mm from BlackRock and Sofina.

The health and beauty group's brands include sports nutrition company Myprotein and makeup line Lookfantastic.

The move comes after former Conservative Chancellor George Osbourne quit his role with BlackRock last month to join mergers and acquisitions specialist Robey Warshaw.

At the start of 2021, The Hut Group said it expects revenues to soar by 35% this year after a strong peak trading performance.