BlackRock to Launch Mischler Shares
A press release entitled, "Mischler Financial and BlackRock to Partner to Provide Dedicated Cash Management Share Class for Mischler Financial Group," tells us, "BlackRock is pleased to announce, in partnership with Mischler Financial Group, a leading disabled veteran-owned broker dealer, that registration statements for Mischler Financial Group Shares, a dedicated share class for clients of Mischler and its affiliates, have been filed with the Securities and Exchange Commission for FedFund, a series of BlackRock Liquidity Funds and for BlackRock Liquid Environmentally Aware Fund (LEAF), a series of BlackRock Funds. Increasingly, we believe clients are looking to maximize their social impact and partner with minority, women and disabled-veteran broker dealers for their debt and equity raises and subsequent cash investment of the proceeds. The partnership between BlackRock and Mischler brings together the investment experience of BlackRock Cash Management and the institutional relationships of Mischler creating a powerful intersection for mutual corporate clients." Mischler's La-Yona Rauls comments, "We are both proud and honored to help advance a groundbreaking initiative that can be embraced by the growing number of investors who are ESG-focused and are determined to engage with emerging, diversity-certified firms such as Mischler Financial Group." BlackRock's Tom Callahan adds, "For over a decade, BlackRock has been working to proactively engage minority, women, and/or disabled-veteran owned broker-dealers to help them emerge as strong liquidity providers to our platform and strong distribution partners of our investment solutions. We are proud to be working with a firm of Mischler's caliber whose dedication to diversity and excellence is on display in all that they do. The distribution of dedicated cash management solutions for our mutual clients is a natural next step." (For more, see Crane Data's August 19 News, "Federated Hermes Files to Enter 'Social' or 'Impact' Money Fund Space.")
