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BlackRock Hedge Fund Raised Its Russia Bet, Suffered Record Loss

(Bloomberg) — One hedge fund team at BlackRock Inc. saw Vladimir Putin’s invasion of Ukraine as a chance to buy more of the country’s stocks. That decision has backfired. Most Read from BloombergChina Warns U.S. Over Forming Pacific NATO, Backing TaiwanOwners Fear Planes ‘Are Gone Forever’ After Russia Shields Them From SeizureUkraine Update: Firms Exit Russia, Fitch Sees ‘Imminent’ DefaultBiden to Sign Crypto Order as Firms Face Sanctions PressureChina Pushes Conspiracy Theory About U.S. Labs