Overview

• Total net inflows reached $205 billion, lifting assets under management to a record $13.5 trillion.
• iShares took in $153 billion, pushing ETF assets above $5 trillion, while cash funds drew $34 billion to reach $1 trillion.
• Revenue rose 25% to $6.51 billion and adjusted EPS was $11.55, both above estimates, as GAAP profit reflected acquisition-related costs.
• The $12 billion HPS deal closed at the quarter’s start, adding $165 billion in client assets; alternatives now total $663 billion and performance fees climbed 33% to $516 million.
• Business Insider reports private-market and tech-service revenues have surpassed fees from fixed-income funds and ETFs since the GIP deal, as Larry Fink said the firm enters its seasonally strongest fourth quarter with “building momentum.”