Nigel Ridge, Portfolio Manager at BlackRock, retires after 34 years

Nigel Ridge, a seasoned portfolio manager at BlackRock, is poised to retire this summer after an illustrious 34-year tenure in the financial services industry. Ridge's contributions to BlackRock have been significant, particularly in managing long/short mandates since 2005 and overseeing the BLK UK Absolute Alpha fund since 2013. As Ridge prepares to embark on his next chapter, changes in portfolio management responsibilities and leadership transitions are underway within BlackRock's UK equity team.

Transition in Portfolio Management

With Ridge's impending retirement, portfolio management responsibilities for BlackRock's UK long/short equity strategies will transition to the emerging companies team, led by Dan Whitestone. Whitestone, a seasoned professional at BlackRock since 2013, will assume the role of co-manager for the BLK UK Absolute Alpha fund, alongside existing manager Oliver Dixon.

Continuity and Oversight

To ensure a seamless transition, Richard Wingfield will remain involved in the portfolios, providing oversight and continuity during this period of change. Whitestone and Dixon will co-manage the UK Equity Absolute Return and UK Equity Hedge Fund strategies, leveraging their expertise and insights to drive performance and deliver value to investors.

Leadership and Expertise

Whitestone's extensive experience within BlackRock's fundamental equities team, coupled with his leadership roles in various hedge funds and investment trusts, positions him well to assume greater responsibilities within the UK equity team. Dixon's transition from the UK core equity team to the fundamental equities team underscores his versatility and readiness to take on new challenges in portfolio management.

Stability in Investment Objectives

BlackRock has assured investors that no changes are expected to the prospectus limits or objectives for any of the portfolios affected by Ridge's retirement. This commitment to stability and continuity reflects BlackRock's dedication to delivering consistent outcomes and preserving investor confidence amidst leadership transitions.

To sum up, Nigel Ridge's retirement marks the end of a remarkable chapter in BlackRock's history, punctuating a distinguished 34-year career in the financial services industry. As Ridge passes the torch to the emerging leaders within BlackRock's UK equity team, the firm remains committed to upholding its legacy of excellence in portfolio management and delivering value to investors across its range of strategies.