BlackRock, Others Buy Into Formula One

By Retracement:Private equity firm CVC Capital (CVC) has sold a $1.6 billion (1.0 billion pounds) stake in 'Formula One' to three investors including BlackRock (BLK) ahead of the motor racing company's planned $3 billion IPO in Singapore.

OSLO (Reuters) - In May 2012 the world's largest sovereign wealth fund joined U.S. investors BlackRock and Waddell & Reed to buy a $1.6 billion stake in motor racing's Formula One.

By CFA Institute Contributors: By Lauren Foster

Last spring, the Norwegian government announced that it would use its $818 billion sovereign wealth fund to do more than simply invest the country’s oil money. From this point forth, said the owners of the world’s largest such fund, it would effectively function as an activist investor, with a mandate to advance social goals and influence corporate behavior.

By Zacks Investment Research: Estimates continue to rise for Waddell & Reed Financial (WDR) following the company's 5th straight earnings beat. It is a Zacks Rank #1 (Strong Buy) stock.

Waddell & Reed Financial (WDR) Q2 2013 Earnings Call July 30, 2013 10:00 am ET Executives Henry John Herrmann - Chief Executive Officer and Chairman of The Board Nicole McIntosh - Director of Investor Relations

Waddell & Reed Financial Inc (WDR) March 06, 2013 9:05 am ET Executives Daniel Paul Connealy - Chief Financial Officer and Senior Vice President Henry John Herrmann - Chairman of The Board and Chief Executive Officer Analysts William R. Katz - Citigroup Inc, Research Division Presentation William R. Katz - Citigroup Inc, Research Division