Blackrock, Blackstone, Blackwater… Why is black a popular prefix with these outfits? (- scratching chin emoji-)
Why BlackRock Wants to Buy Your Power Company Utility costs are soaring from the AI boom — and asset managers want to cash in. Sep 25, 2025 BlackRock, the world’s largest asset manager, is trying to acquire Minnesota Power, a regional utility company that provides power to approximately 150,000 people in the state. If it succeeds, critics warn, there could be far-reaching consequences for the community, potentially driving up already-soaring utility costs and throwing a wrench in state decarbonization goals. “There’s no requirement that they pursue this clean energy vision that the current executives in Minnesota Power have laid out,” Minnesota State Senator Jen McEwen told More Perfect Union. “We’re going into this sale on promises without any teeth in the guarantee that it’ll actually be carried forward.” Just over a year ago, More Perfect Union released an investigation that dug into how BlackRock and other major asset managers have wormed their way into nearly every facet of Americans’ economic lives. Twelve days after the video’s release, BlackRock acquired Global Infrastructure Partners (GIP), an infrastructure investment firm that acquires stakes in water and waste systems, transportation, and airports.