The world’s biggest fund manager, which until recently employed former Chancellor George Osborne, has increased its stake in Manchester-based e-commerce giant The Hut Group.
BlackRock, which is based in the US, is a long-time investor in the listed group and has upped its holdings to almost 10%.
According to newly filed documents to the London Stock Exchange, BlackRock now has a 9.73% stake, up from 6.17%.
The Hut Group, which completed its initial public offering last year, raised £830m in December 2019 which included £6mm from BlackRock and Sofina.
The health and beauty group's brands include sports nutrition company Myprotein and makeup line Lookfantastic.
The move comes after former Conservative Chancellor George Osbourne quit his role with BlackRock last month to join mergers and acquisitions specialist Robey Warshaw.
At the start of 2021, The Hut Group said it expects revenues to soar by 35% this year after a strong peak trading performance.
At the time, Matthew Moulding, executive chairman and CEO of the group, said: "I am pleased to report another strong performance through Q4 2020, during what has been a transformational year for THG.
"Due to the focus and dedication of our rapidly growing global workforce we have delivered some significant milestones in 2020.
"Following our successful listing on the London Stock Exchange in September 2020, we have accelerated our sales growth across all areas of the group, underpinned by record new customer numbers.
"We have also started reinvesting capital raised at IPO, including over £360m in M&A, principally within the US beauty sector."
