BlackRock Assets Hit Record $10.65 Trillion On ETF Flows, Rising Stocks

Assets managed by BlackRock hit a record $10.65 trillion in the second quarter thanks to rising client asset values and as investors pumped money into the company's exchange-traded funds (ETF), the world's largest asset manager said, Arasu Kannagi Basil and Davide Barbuscia reported for Reuters.

BlackRock expects to close in the second half of the year two acquisitions that will bolster its presence in infrastructure investments and private markets. I Photo: Dazzling4 Wikimedia Commons

Stock markets have scaled record highs in the last few months amid rising expectations of a soft landing for the U.S. economy and an investor frenzy around artificial intelligence-linked stocks.

The benchmark S&P 500 index jumped about 4% in the reported quarter, boosting BlackRock's assets under management to $10.65 trillion, up from $9.43 trillion a year

earlier and $10.5 trillion in the first quarter.

BlackRock expects to close in the second half of the year two acquisitions that will bolster its presence in infrastructure investments and private markets, two key areas of growth.

"We see unbelievable growth opportunities for our clients and shareholders for 2024 and beyond," BlackRock's chairman and CEO Larry Fink said in a conference call, adding he saw great potential for investments into the energy transition and artificial intelligence (AI) data centers.