Puente Mocks BlackRock's €60B Investment in Spain
Óscar Puente sarcastically questioned BlackRock's €60 billion investment in Spain, calling it 'strange' for a major fund to invest in a country with a 'socialist communist Bolivarian' government.
English · Original discussion in Spanish · Published
Puente Mocks BlackRock's €60 Billion Investment in Spain
Óscar Puente sarcastically wrote on social media that it seemed 'strange' for one of the world's 3 largest investment funds to focus on 'a country governed by Bolivarian socialist communists' and decide to invest 'a whopping €60 billion'. However, the irony backfires when one looks at how and why BlackRock invests.
Why Does BlackRock Invest in Spain?
According to a participant in the debate, large funds are drawn to countries facing the most difficulties, where assets can be bought at bargain prices. Institutional capital doesn't come out of affection for the current government but because it finds value and business opportunities. This same participant states that BlackRock has invested more money in Ukraine than in Spain, a country in open warfare.
Spanish Stock Market Investment That Could Actually Leave
According to another contributor, BlackRock isn't buying Spain itself but shares in Spanish multinationals with global operations, and these companies can relocate whenever they wish. The Ferrovial case is cited as a precedent: first listing in the Netherlands, then on Nasdaq. The same contributor points out that large groups hire former public officials, former state attorneys, and former tax inspectors for their departments, ensuring that the socialism affecting taxpayers doesn't reach their organizational structure.
Praise or Criticize Funds? The Double Standard
Another participant highlights the contradiction. Months ago, as recalled in the discussion, several voices denied that housing policies favored large property owners, and now these same voices complain that housing is in the hands of large owners. 'They sell to us, but only they collect,' summarized one of the contributors.
The echo of Argentina also appears: Javier Milei's meeting with BlackRock's CEO, which Milei himself described as a 'total success'.
A question lingers unanswered with data: if €60 billion come in, how much goes out in return? BlackRock has been in Spain since 2012, according to the debate, and someone suggests, without certainty, that it has also removed the climate agenda from its portfolio. With this track record, why is Óscar Puente being sarcastic about a figure that the investor can unwind tomorrow?
Óscar Puente sarcastically wrote on social media that it seemed 'strange' for one of the world's 3 largest investment funds to focus on 'a country governed by Bolivarian socialist communists' and decide to invest 'a whopping €60 billion'. However, the irony backfires when one looks at how and why BlackRock invests.
Why Does BlackRock Invest in Spain?
According to a participant in the debate, large funds are drawn to countries facing the most difficulties, where assets can be bought at bargain prices. Institutional capital doesn't come out of affection for the current government but because it finds value and business opportunities. This same participant states that BlackRock has invested more money in Ukraine than in Spain, a country in open warfare.
Spanish Stock Market Investment That Could Actually Leave
According to another contributor, BlackRock isn't buying Spain itself but shares in Spanish multinationals with global operations, and these companies can relocate whenever they wish. The Ferrovial case is cited as a precedent: first listing in the Netherlands, then on Nasdaq. The same contributor points out that large groups hire former public officials, former state attorneys, and former tax inspectors for their departments, ensuring that the socialism affecting taxpayers doesn't reach their organizational structure.
Praise or Criticize Funds? The Double Standard
Another participant highlights the contradiction. Months ago, as recalled in the discussion, several voices denied that housing policies favored large property owners, and now these same voices complain that housing is in the hands of large owners. 'They sell to us, but only they collect,' summarized one of the contributors.
The echo of Argentina also appears: Javier Milei's meeting with BlackRock's CEO, which Milei himself described as a 'total success'.
A question lingers unanswered with data: if €60 billion come in, how much goes out in return? BlackRock has been in Spain since 2012, according to the debate, and someone suggests, without certainty, that it has also removed the climate agenda from its portfolio. With this track record, why is Óscar Puente being sarcastic about a figure that the investor can unwind tomorrow?
Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (36 replies).
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