BlackRock splashes out £63m to up stake in Jupiter

BlackRock has bought about £63m worth of shares in Jupiter, doubling its stake in the fund manager to more than 10%.

At Jupiter's IPO in June last year, BlackRock picked up a 5.13% stake in the asset manager. According to a stock exchange announcement this morning, the group has purchased an additional 22m shares, to take its total stake to 45,447,335 shares. Coupled with the 473,132 contracts for difference (CFDs) it owns, BlackRock's total stake is now worth 10.03%. Jupiter's shares closed at 286.7p yesterday, making BlackRock's total shareholding worth about £130m. Jupiter's initial public offering was 2.5 times oversubscribed, and took senior managers Tony Nutt, Philip Gibbs, Edward Bonham...