Aladdin and the Jio BlackRock genie


Ranjan Crasta

10 reads

Ranjan Crasta

10 reads

From nothing in 1988 to now having close to $10 trillion in assets under management, BlackRock built its empire on the back of its proprietary risk management solution Aladdin. Here’s the story behind Aladdin and why it could upend India’s asset management pecking order.

July 28, 2023


Going into 1986, Larry Fink’s prospects couldn’t have looked brighter. Over the course of the past decade, the 33-year-old had established himself as a legend on Wall Street. His trades had earned First Boston—the investment bank he worked at—around $1 billion. Along the way, he’d pioneered mortgage-backed securities—yes, the same ones that would tank the global economy in 2008—and became the bank’s youngest-ever managing director.

The second quarter of 1986, however, was the beginning of the end for Fink at First Boston. In that period, his department lost $100 million after taking up massive trading positions based on his predictions. 

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