BlackRock (the world's largest asset management company with approximately $11 trillion in assets under management) is pursuing the acquisition of a Minnesota electric power company.
- Critics warn: Electricity rates expected to rise after acquisition + clean energy goals undermined
- Source: The Guardian, September 2025
- Similar cases: BlackRock, Blackstone — Bulk purchases of residential real estate across the U.S. and Europe
What's going on??
- Public utilities (electricity, water, transportation) are traditionally operated by the government or public institutions.
- Recently, large asset management companies (BlackRock, Macquarie, KKR, etc.) have actively acquired this field.
- Post-acquisition pattern: rate increase + facility investment decrease + shareholder dividend increase
- Structural conflict between private rate of return demands and public service obligations???
Relational risk analysis
On the surface: Streamlining and modernizing old infrastructure through inflow of private capital.
The primary reality is: capital reorganizes the corporate (utility)-community-government triangle.
What is scarier in reality?
Operating assets amount to 500 trillion won, how many companies are dominant? Electric infrastructure-related companies owned by BlackRock
What’s easier than raising your electricity bill?
If a specific company is entered into the electricity-related ecosystem at an appropriate stock price, what will its stock price be?
The risk begins in this relationship, and the more involved, the greater the risk.
Capital polarization
Relational risk!!!
#relationalrisk #raymondsrisk #raymondsindex #konnectai
Comments
Post a Comment