BlackRock Total Assets Hit Record $14 Trillion as ETFs Surge

Core Insights - BlackRock Inc. achieved a record $14 trillion in total assets, driven by $342 billion in client cash inflows during the fourth quarter [1] - The firm reported a net addition of $268 billion to its long-term investment funds, including $181 billion to its exchange-traded fund business, which now totals $5.5 trillion [2] - BlackRock's adjusted earnings per share increased by 10% year-over-year to $13.16, surpassing analyst expectations [5] Financial Performance - Revenue for the fourth quarter rose 23% to $7 billion compared to the same period last year [5] - Operating expenses increased by 48% year-over-year to $5.3 billion, reflecting the company's aggressive expansion in private markets [5] - The firm raised its quarterly cash dividend by 10% to $5.73 per share [5] Market Position and Strategy - BlackRock's private markets revenue for the full year doubled to $2.4 billion [6] - The company is transitioning from a focus on public markets to becoming a major player in private credit and infrastructure markets globally, with significant acquisitions totaling around $28 billion [7] - BlackRock is integrating recent acquisitions and launching new products aimed at wealthy retail investors and defined-contribution plans [8] Client Engagement - CEO Larry Fink noted an expanding pipeline of business across various products and regions, indicating increased client engagement [4] - The firm managed to attract $15.6 billion in liquid alternative and private assets during the quarter [8]