FIRST ON FOX: The State of Texas is terminating a massive $8.5 billion investment with trillion-dollar asset manager BlackRock over the state's determination that the firm is engaged in a boycott of energy companies. In an announcement first shared with FOX Business, Texas State Board of Education Chairman Aaron Kinsey said the so-called Texas Permanent School Fund had delivered a notice to BlackRock on Tuesday, informing the New York City-based firm of the action.
BlackRock is helping millions of Texans invest and save for retirement," a BlackRock spokesperson told FOX Business. "On behalf of our clients, we’ve invested more than $300 billion in Texas-based companies, infrastructure and municipalities, including $125 billion invested in the energy sector, including a $550 million joint venture with Occidental. We recently hosted an energy summit in Houston designed to explore how to strengthen Texas’ power grid.