BlackRock is a multinational investment management corporation and a significant institutional investor in the space industry. While not a space agency, launch provider, or manufacturer, BlackRock invests in space-related companies through its various funds and ETFs, such as the iShares U.S. Aerospace & Defense ETF (ITA). BlackRock's investments span across satellite constellations, space infrastructure, and related technologies, partnering with or investing in companies like Loft Orbital and Sierra Space. They provide capital and financial expertise to support the growth and commercialization of the space economy.
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The final $25,000,000 of BlackRock’s $75,000,000 loan to SmartSky was contingent on SmartSky making substantial progress on its nationwide network rollout.
BlackRock’s Global Credit Opportunities team agreed last year to loan SmartSky $75,000,000 and made the full amount available after SmartSky passed a network deployment milestone.
Of the $104,000,000 raised by SmartSky Networks, $75,000,000 consists of debt from funds managed by BlackRock and equity investments by private equity firms Tiger Infrastructure, WP Global, Platform Partners, and Meritage Investors.