Financial Times reports that BlackRock, Inc. (NYSE:BLK) is adding a big acquisition to its bag by buying Swiss Re Ltd. (PINK:SSREY) (PINK:SSREF)’s private equity unit that is worth $7.5billion. This deal will not only double  BlackRock, Inc. (NYSE:BLK)’s equity funds but will also make it a leader in private equity fund managers. BlackRock already holds the title of world’s largest asset manager, now it is all set to expand its hold in the investment banking field as well.

Previously (in May of this year) the Bristish bank Barclays Plc (NYSE:BCS) had announced its solid intention to sell $6.1 billion worth of stake that it held in BlackRock. This amounted to the entire 20% of BlackRock stock that Barclays owned. It was also announced that BlackRock will buy as much as $1 billion of its stock back from Barclays. So this deal with Swiss Re Ltd, marks BlackRock’s second major acquisition and transfer of funds in a matter of months. BlackRock is among those companies that took the hitting of financial crisis pretty hard on itself. But this major player clung to what it had and has apparently made it through.

BlackRock has been bargaining on the uncertainty that looms over banking. Last year it brought the team from Bank of America Corp (NYSE:BAC) Merrill Lynch Co’s private equity business (BlackRock bought Merrill Lynch & Co.’s investment unit in 2006) in a bid to expand its hold in the banking field. It has also enlarged its hedge funds, real estate and private equity divisions, and now this Swiss Re Ltd. (PINK:SSREY) (PINK:SSREF) is bringing BlackRock to the forefront of infrastructure banking.