BlackRock Hauls in $205 Billion as Private Assets Accelerate

Core Insights - BlackRock Inc. attracted $205 billion in client money during Q3, marking significant growth in private credit and alternative assets [1] - The firm reported net flows of $171 billion into long-term investment funds, surpassing analyst expectations [2] - Total assets under management reached a record $13.5 trillion, driven by market surges [2] Financial Performance - Adjusted earnings per share increased by 1% year-over-year to $11.55, exceeding the average analyst estimate of $11.47 [4] - Revenue rose 25% to $6.5 billion compared to the previous year [4] - Performance fees surged approximately 33% to $516 million, largely due to the private markets business [6] Strategic Moves - BlackRock completed a $12 billion acquisition of HPS Investment Partners, enhancing its position in the alternative asset space [5] - The HPS acquisition added $165 billion in client assets, bringing total alternative assets to $663 billion [6] - The company aims to raise an additional $400 billion by 2030 [6] Market Position - BlackRock's shares increased by 17% over the past year, outperforming the S&P 500 Index's 14% rise [7]