Under the terms of the deal, representatives from both firms will establish steering committees that will meet regularly to address the investment needs of global clients, with an emphasis on Asia and Japan.

BlackRock's investment capabilities will be made available to Mizuho's clients. Meanwhile, the Japanese firm is also considering the implementation of BlackRock's Aladdin risk and investment system in its own operations.

The companies first announced this plan in November 2010, in connection with the secondary offering and direct placement of approximately three million shares of BlackRock's common stock with Mizuho.

BlackRock has around $3.56 trillion in assets under management, as of 31 December 2010, while Mizuho has over $1.4 trillion in AuM.