BlackRock's Fink bullish on private markets amid high US deficit

NEW YORK (Reuters) - The growth of private markets could mitigate the economic impact of wide U.S. deficits and high government debt levels, said Larry Fink, CEO and chairman at BlackRock.

Speaking at the Securities Industry and Financial Markets Association annual meeting in New York on Monday, he said rising U.S. government debt is a "big problem" but that private capital markets can help the U.S. economy grow without adding to the deficit.

(Reporting by Davide Barbuscia and Laura Matthews)