Alameda County Adds Mischler Financial Group for Cash Management Mandate
Inaugural investment to be allocated to the Mischler dedicated share class for the BlackRock Liquid Federal Trust Fund (EDUXX)
NEWPORT BEACH, Calif. & STAMFORD, Conn.–(BUSINESS WIRE)–#AlmedaCounty–The Alameda County Investment Pool has allocated an undisclosed amount in an inaugural investment to the Mischler Financial Group Shares share class of the BlackRock Liquid Federal Trust Fund (“BLFT”).
BLFT is a government money market fund designed for investors seeking to further positive social outcomes through their cash management. Each year, a portion of net revenue from BlackRock’s management fee from BLFT will be contributed to the Thurgood Marshall College Fund (“TMCF”), which supports students of Historically Black Colleges and Universities (“HBCUs”) and Predominantly Black Institutions (“PBIs”) in their journey to college and into upwardly mobile careers.
“Our investment in BLFT aligns with Alameda County’s strategic vision, Vision 2026, which assures a positive outlook for our future and the future of our children,” stated Henry Levy, the County Treasurer-Tax Collector and Head of the Alameda County Investment Pool.
Mischler Financial Group Shares, Inc. (“Mischler”), the financial industry’s oldest diversity-certified broker-dealer owned and operated by service-disabled veterans, and a certified Minority Business Enterprise (MBE), is among the select diversity-certified firms who BlackRock has partnered with to establish dedicated share classes for the fund.
La-Yona Rauls, Managing Director and Head of Corporate Cash Strategies for Mischler, stated, “We’re thrilled to provide a cash management solution for Alameda County, which meets their liquidity needs while simultaneously supporting diverse communities and businesses.”
Robert Fischbach, Managing Director for BlackRock Cash Management, said, “The partnership between BlackRock and Mischler is a powerful one, bringing together the investment experience of BlackRock and the institutional relationships of Mischler to drive positive social outcomes.”
Established in 1994, Mischler is the securities industry’s oldest minority-certified broker-dealer owned and operated by Service-Disabled Veterans, a federally-certified Service-Disabled Veteran-Owned Small Business Enterprise (SDVOBE), and a certified Minority Business Enterprise (MBE). Mischler boot prints can be found across the primary debt and equities capital markets, where the firm serves as a pure complement to the role played by lead underwriters and works with a broad spectrum of corporate debt and equity issuers and municipal debt issuers. Mischler’s holistic approach to institutional brokerage combines next-level technology with concierge-style, high-touch service to provide better execution for corporate treasury clients overseeing share repurchase and FX hedging strategies and for asset managers who oversee investment strategies across domestic and global equities, ETFs, fixed income, rates, and FX markets.
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate.
La-Yona C. Rauls
Managing Director, Head of Corporate Cash Strategies