THE WORLD’S largest money manager BlackRock yesterday joined hedge fund guru Crispin Odey in revealing itself as a major shareholder in online fashion retailer Boohoo.
The US money manager, which was founded by chief executive Larry Fink, has taken 56m shares in the company, worth around five per cent of the business.
It is a major vote of confidence in the retailer, given BlackRock’s reputation as a seasoned and savvy stock-picker.
The firm, which has its head office at Drapers Garden in the City, joins Odey’s firm Odey Asset Management, which last week disclosed a seven per cent stake in the business. Boohoo, co-founded by Carol Kane (pictured), floated on the Alternative Investment Market this month, valuing the Manchester company at £560m.