BlackRock's Assets Surge to Record $11.5 Trillion Amid Market Rally

The asset management giant sees unprecedented inflows and pivots toward private markets for future growth.

BlackRock reported record net inflows of $221 billion in the third quarter, driven by strong performance in equity markets and ETFs.
The firm's assets under management increased significantly from $9.1 trillion a year ago to $11.5 trillion, marking a third consecutive quarterly high.
Recent acquisition of Global Infrastructure Partners is expected to enhance BlackRock's private markets capabilities, contributing $250 million in management fees next quarter.
BlackRock's third-quarter net income rose to $1.63 billion, with earnings per share surpassing analyst expectations at $11.46.
CEO Larry Fink emphasized the firm's strategic shift towards high-fee private market strategies, leveraging new technologies and infrastructure investments.