BlackRock Hits $11.5 Trillion In Assets As Private Markets Grow

BlackRock Inc. pulled in $160 billion of client cash to its long-term investment funds last quarter, pushing the world’s largest money manager to a record $11.5 trillion in assets as it seeks to become a one-stop shop for stocks, bonds, and, increasingly, private assets, Silla Brush reported for Bloomberg News.

BlackRock has pulled in $360 billion in total net inflows so far this year, surpassing the full-year net flows of 2022 and 2023. I Photo: Alpha Photo Flickr

Investors added $97 billion to exchange-traded funds (ETFs) and $63 billion to fixed-income overall in the third quarter, New York-based BlackRock said in a statement.

This total exceeded the $100 billion average estimate of analysts surveyed by Bloomberg. BlackRock has pulled in $360 billion in total net inflows so far this year, surpassing the full-year net flows of 2022 and 2023.

“We are effectively leveraging our technology, scale, and global footprint to deliver profitable growth,” Chief Executive Officer Larry Fink said in the statement.

After the third quarter ended, the firm completed its $12.5 billion acquisition of Global Infrastructure Partners on October 1, in a deal adding $116 billion of private market assets. The company also had $61 billion in net flows to cash management and money market funds during the period. Total net flows were $221 billion.