BlackRock's Rieder Seeks Cash for Hedge Fund

Rick Rieder, BlackRock Inc.'s top bond-market executive, is actively seeking investor capital for his first hedge fund launch in several years. This move comes after Rieder was notably passed over for the Federal Reserve chair position by President Donald Trump. The initiative signals Rieder's intent to expand his investment activities beyond his current role at BlackRock. The pursuit of new funding for a hedge fund suggests a strategic diversification of his financial ventures and a focus on alternative investment strategies.