(Bloomberg) — BlackRock Inc. pulled in a record $221 billion of total client cash last quarter, pushing the world’s largest money manager to an all-time high of $11.5 trillion of assets as it seeks to become a one-stop shop for stocks, bonds and, increasingly, private assets.
Investors added $97 billion to exchange-traded funds and $63 billion to fixed-income overall in the third quarter, New York-based BlackRock said Friday in a statement. BlackRock has pulled in $360 billion of total net inflows so far this year, surpassing the full-year net flows of 2022 and 2023.
The firm pulled in $5.5 billion of total net flows for alternatives, compared with outflows of $4.2 billion a year ago. It reported $170 billion of illiquid alternative assets.
That’s set to surge. After the third quarter ended, the firm completed its $12.5 billion acquisition of Global Infrastructure Partners, in a deal adding $116 billion of private market assets.
BlackRock’s long-term investment funds took in $160 billion net flows in the period, a total that topped the $100 billion average estimate of analysts surveyed by Bloomberg.
The company also had $61 billion in net flows to cash-management and money-market funds in the period. Operating income rose 26% from a year ago to $2.1 billion.
The firm added $2.4 trillion to its total assets over the past 12 months.
BlackRock is positioning itself as a single place for global clients to invest across public and private markets. It benefited this year from the surge in stocks and cash beginning to flow into fixed-income and private funds. The S&P 500 Index rose about 5.5%in the third quarter, and investors are betting the Federal Reserve won’t need to cut rates aggressively in the near-term to avoid a recession.
BlackRock is in the process of closing a £2.55 billion ($3.3 billion) acquisition of private-markets data firm Preqin.
The firm is also signaling that it wants to catch up in the fast-growing market for private credit, recently shaking up the senior executive team of its global private debt business and establishing a direct-lending group. BlackRock is exploring a purchase of HPS Investment Partners that could value the private credit firm in excess of $10 billion, Bloomberg reported this week.
BlackRock’s adjusted net income per share rose 5% from a year ago to $11.46 per share, beating analysts’ expectations of $10.40 a share. Revenue rose 15% to $5.2 billion from a year ago, which the firm said was driven by higher performance fees, organic base fee growth and the positive impact of markets.
Shares of BlackRock have risen about 18% this year as of market close Thursday, trailing the 21% advance of the S&P 500 Index.
This means, you take one article, and you use the article distribution system. It will generate thousands of unique versions of your article, and publish those unique articles to hundreds of websites that are related to your niche.
Take a look at our comprehensive guide to the best and most popular information ebooks and products available today on Detoxing, Colon Cleansing, Weight Loss and Dating and Romance. They are all in one spot, easy to find and compere to make a quick selection for the product that best fits your needs or wants.
So browse through a category and make your preferred selection and come back here to read more choice articles and get a few more helpful tips on ways to help your enhancement.
As an Amazon Associate I earn from qualifying purchases. “saubiosaubiosuccess.com is a participant in third party affiliate and advertising programs; The Amazon Services LLC Associates Program, Awin network, and other affiliate advertising programs are designed to provide a means for sites to earn advertising fees and commissions by advertising and linking to products on other sites and on Amazon.com. Amazon and the Amazon logo are trademarks of Amazon.com, Inc, or its affiliates.”
We use anonymous cookies and various 3rd-party services to optimise and to offer you a better, more personalised, browsing experience with advanced accessibility enhancements.
Dismiss
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
