BlackRock Inc, the largest U.S. publicly traded asset manager, said it would take part in the U.S. Treasury's plan to cleanse banks of toxic assets in an investment management role.
It is definitely our intention to get involved as one of the investment managers in this program, BlackRock Managing Director Curtis Arledge said in a statement.
Obama administration officials released some details of the Treasury's plan, which aims to attract private investors to funds that also would get government money and financing to buy up to $1 trillion in distressed loans and other assets from banks.
It will hire up to five investment managers to run parts of the program.
(Reporting by Jennifer Ablan; Editing by Jan Dahinten)