BlackRock CEO Larry Fink met with Mexican President Claudia Sheinbaum this week to discuss the firm’s ongoing investment strategy within the country. The meeting serves as a high-level dialogue between the administration and the world’s largest asset manager.
BlackRock manages roughly $11 trillion in assets globally, according to BBC data. While the firm does not own these assets outright, it wields significant influence over investment decisions for clients ranging from pension funds to major corporations.
A deep footprint in Mexican industry
The firm maintains a substantial presence in the Mexican economy. President Sheinbaum noted that BlackRock holds investments in critical national infrastructure, including electric power plants and the Port of Manzanillo.
BlackRock’s influence extends into the private sector as well. As of September 2024, the firm held an average 3.4% stake across a variety of Mexican companies. Its portfolio includes major players such as Cemex, Grupo Financiero Banorte, Televisa, and América Móvil.
Specific holdings reveal the depth of this involvement. BlackRock owns 9.07% of Cemex and 8.54% of Grupo Aeroportuario Centro Norte, known as OMA. It also maintains a 7.15% stake in Banorte and 6.28% in the real estate developer Vesta.
Beyond direct equity, BlackRock operates the asset management arm of Banamex. This division provides investment services directly to the bank’s client base.
While BlackRock dominates the landscape, other institutional investors also maintain significant positions in Mexico. Vanguard, for instance, holds an average 2.6% stake in local firms, including Grupo Aeroportuario del Pacífico and Gruma.
BlackRock’s global reach is vast. The firm manages $107 billion in Latin America alone. Its worldwide portfolio includes stakes in tech giants like Nvidia and Apple, as well as retail leader Walmart. The total value of assets managed by the company is equivalent to roughly half of China’s annual production value.
