BlackRock is the largest asset manager in the world with more than $10 trillion in asset management worldwide, according to information presented to the market yesterday. Spain is no exception. According to data from the Spanish financial markets regulator, the CNMV, at the end of September this manager declared holdings of more than 3% in half of the Ibex 35 companies. In nine of them, the holding is above 5%.

There are two sectors in which this global giant rules with special relevance: financial and energy.

BlackRock is the largest shareholder of Banco Santander, with 5.08% of its capital, according to data published yesterday by the CNMV. It is also the same for BBVA, with 5.4%, and for Banco Sabadell, where it owns 3.3%. When the GIP purchase operation is completed and if it remains in the capital of Naturgy, it will also be king and lord among the heavyweights of the strategic energy sector.

Currently, it is already the first shareholder in Repsol, with 5.3% of its capital, the second in Iberdrola, where it owns 5.2%, and the third in the companies that own energy infrastructures. He has 4.042% of Enagás and 4.5% of Redeia.

Outside of these sectors, its 5% stake in Amadeus, the leading tourism reservation management company, stands out, where it is the second shareholder.

A domain that, until now, has never been questioned, since BlackRock is attributed the role of financial investor without the intention of intervening in the daily management of the companies.

Among his declared intentions is the defense of the environment, which has led him to receive harsh criticism in the United States, especially from the Republican ranks, who accuse him of practicing woke capitalism by having joined the defense of the environment and forcing the companies in which it participates to comply with the increasingly demanding requirements of environmental corporate responsibility standards.

In the Spanish energy companies you will not encounter such reluctance, but it remains to be seen if in this new strategy of growing more outside the US that the company presented yesterday it does not encounter the reluctance of governments, increasingly reluctant to international capitals take important positions in strategic companies. Or will these reluctance be only if the capital comes from the East and not the West?