Record AUM and Net Inflows
BlackRock, Inc. finished the third quarter with record assets under management (AUM) of $13.5 trillion. Over the last twelve months, clients entrusted BlackRock with nearly $640 billion of net new assets, including $205 billion of net inflows in the third quarter.
Strong Organic Base Fee Growth
The company achieved 10% annualized organic base fee growth in the third quarter, driven by broad-based client demand for iShares, private markets, systematic outsourcing, and cash strategies. This represents the highest quarterly growth since 2021.
Successful Acquisitions and Expansions
BlackRock closed acquisitions of HPS and Elmtree, announced an $80 billion SMA solution with City Wealth, and onboarded a $30 billion pension mandate, significantly strengthening their platform capabilities across private markets, digital assets, data, and technology.
Record Revenue and Operating Income Increase
Third quarter revenue reached $6.5 billion, a 25% increase year over year, while operating income rose by 23% year over year, driven by acquisitions and organic growth.
iShares ETFs and Digital Assets Growth
iShares ETFs generated $153 billion of net inflows in the third quarter, with significant contributions from digital assets ETPs and active ETFs, marking a record flows quarter.
Advancements in Tokenization and Digital Assets
BlackRock is actively exploring tokenization to integrate traditional investment products into digital wallets, aiming to expand access to high-quality investment opportunities in a digital format.