- BlackRock has surpassed $11.5 trillion in assets under management, setting a new record for the third consecutive quarter in 2024.
- The firm’s success is attributed to increased inflows into its exchange-traded funds (ETFs), including the launch of the first crypto-based ETFs in the United States earlier this year.
- BlackRock’s strategy involves ambitious expansion through offerings and acquisitions, such as the recent $12.5 billion acquisition of Global Infrastructure Partners and the upcoming $3.2 billion acquisition of data provider Preqin.
BlackRock has surpassed $11.5 trillion in assets under management, marking the third straight record-setting quarter for the firm.
BlackRock’s Assets Reach New Heights
There have been few asset managers with the kind of success and prominence of BlackRock. During the first quarter of the year, the New York-based firm held $10.5 trillion in assets, up from just $8.59 trillion in 2022. Throughout 2024, they have seen those figures skyrocket to record marks.
Those increases have culminated in BlackRock officially surpassing $11.5 trillion in assets under management on Friday. Moreover, that is the third straight quarter of a record increase, with Q2 reporting $10.65 trillion in assets. The persevering success shows the firm is unlikely to slow down any time soon.
Driving Factors Behind the Growth
The firm received a notable boost from increased inflows into its exchange-traded funds (ETF). In January, they were one of eleven inaugural issuances of the first crypto-based ETF in the United States. Just a few months later, they featured both a Bitcoin and Ethereum investment option that has only magnified their economic presence.
BlackRock’s strategy remains focused on expanding offerings and acquisitions. Just a week ago, BlackRock acquired Global Infrastructure Partners for $1.25 billion. That move saw more than $100 billion in assets added to the firm’s managed holdings.
In late 2024, the firm is expected to close a $32 billion deal to acquire data provider Preqin. Those moves should be monumental for its presence in private markets, a key growth area for the firm. With it also firmly embracing a position in the crypto sector, its role in the finance sector is growing to be both unmatched and unrelenting.
Conclusion
With its assets under management continuing to reach new highs, BlackRock shows no signs of slowing down. The firm’s ambitious growth strategy, acquisitions, and expanded offerings have cemented its status as the world’s largest asset manager. As BlackRock continues to expand into new areas like crypto, its dominance in the finance industry looks set to keep rising.
