Core Insights - BlackRock has launched its first actively managed infrastructure ETF, the iShares Infrastructure Active ETF (BILT), reflecting the growing interest in infrastructure as a long-term investment vehicle [1][2] Group 1: ETF Details - BILT includes 50 to 60 global infrastructure companies, covering sectors such as transport terminals, energy storage, utilities, and construction [3] - The ETF employs an active management strategy rather than passively tracking broad indexes, with an expense ratio of 0.60% [3] - BILT tracks the FTSE Developed Core Infrastructure 50/50 Net TR Index [3] Group 2: Market Context - Global infrastructure spending is projected to reach $68 trillion by 2040, driven by trends like digitalization, energy independence, and supply chain reorganization [4] - BlackRock's infrastructure business, Global Infrastructure Partners, manages approximately $183 billion across over 300 investments in more than 100 countries [4] Group 3: Investment Appeal - Infrastructure investments have historically been under-allocated in global indexes, which enhances the attractiveness of BILT [5] - The ETF provides access to an asset class that has shown lower volatility compared to global equities while still offering growth potential [5]

We're going to turn back to Brian Sullivan who joins us with a special guest. Hey Brian. Yeah, not just energy and AI Carl, but the largest asset management firm in the world.New results this morning, Black Rockck 12.5% trillion in assets under management, organic fee growth 6% and going higher on that. Larry Frink is the founder and the chair and CEO of Black Rockck and joins us now. Uh Larry, we're going to get to AI and energy and everything why we're here in just a second.The market's not loving the rea ...