"Since we announced the acquisition in August 2004, we have become more enthusiastic about the potential of the combined firm," says Laurence D. Fink, BlackRock's chairman and CEO. "Our new colleagues will enhance our US equity and alternative investment platforms, expand our mutual fund distribution efforts, and augment our fixed income and cash management capabilities."

Fink has been bullish about the real estate aspects of the acquisition. "We see a lot of opportunity in real estate equity," he said during a conference call dealing with the acquisition. "We believe we will be able to expand the real estate equity portfolio."

More than 350 employees and businesses of SSRM will be integrated with, and operate under, BlackRock and BlackRock Realty Advisors banners. They are located primarily in the firm's Boston, Morristown, NJ and San Francisco offices. Richard Davis, formerly CEO SSRM, has joined BlackRock to head the firm's Boston efforts. Mark Marinella, formerly SSRM's CIO, fixed income, will lead the firm's cash management business based in Wilmington, DE. BlackRock has approximately $342 billion of assets under management at Dec. 31. In December, the pairing raised $665 million in the BlackRock Global Energy and Resources Trust, a closed-end fund.