BlackRock nears BGI deal

US ASSET manager BlackRock, led by&nbsp; chief executive Larry Fink, is poised to wrap up a $13bn (&pound;8bn) deal for Barclays Global Investors (BGI) as early as tomorrow, in a move that will create the world&rsquo;s largest money manager.<br /><br />The cash-plus-equity deal, which looks set to go ahead despite interest from Bank of New York Mellon, would create a giant with assets of more than $2 trillion, overshadowing current market leader State Street Global Advisors.<br /><br />Barclays will take a 20 per cent stake in the combined entity, allowing it to maintain an interest in asset management, despite offloading the BGI unit.<br /><br />A bevy of Middle Eastern investors, including major Barclays shareholder the Qatar Investment Authority are expected to contribute $3bn to the deal in return for a stake of between 12 and 15 per cent in the new group.