BlackRock reports record assets under management
By Josh White
Date: Tuesday 14 Oct 2025
(Sharecast News) - BlackRock reported a record $13.5trn in assets under management at the end of the third quarter on Tuesday, boosted by robust inflows into its iShares exchange-traded funds and growing demand for private-market investments.
The world's largest asset manager said total net inflows reached $205bn in the quarter, contributing to a 10% annualised increase in organic base fees and a 25% rise in revenue year-on-year.
Net income fell 19% to $1.32bn, or $8.43 per share, reflecting noncash acquisition-related expenses, though adjusted earnings of $11.55 per share topped analyst expectations.
Adjusted operating income climbed 23% from a year earlier, while adjusted earnings per share rose 1%, aided by a lower effective tax rate.
The company repurchased $375m in shares during the quarter.
BlackRock said the growth was driven by record demand for its exchange traded funds, as well as continued expansion in its private markets and cash management franchises.
The company's acquisition of HPS Investment Partners, completed in July, added $165bn in client assets and $118bn in fee-paying assets.
Its private-markets business ended the quarter with $320.9bn under management, as it continued to expand into areas such as private credit, real estate, and infrastructure.
"BlackRock delivered one of our strongest quarterly flows results, with net inflows of $205bn, powering 10% organic base fee growth in the third quarter and 8% over the last twelve months," said chairman and chief executive Laurence Fink.
"Top organic base fee growth contributors included our systematic franchise, private markets, digital assets, outsourcing, cash and iShares ETFs, which saw record demand."
The company's core iShares ETF business surpassed $5trn in assets, while its cash management arm crossed the $1trn threshold.
A newer product, the iShares Bitcoin Trust, had grown rapidly to nearly $100bn in assets less than two years after its launch.
Fink said BlackRock's recent acquisitions, including Global Infrastructure Partners (GIP), HPS, and data analytics firm Preqin, were accelerating client engagement and driving "landmark fundraising and deal flow".
"We're entering our seasonally strongest fourth quarter with building momentum and a fully unified platform ... anchored by a public-private investment model, backed by Aladdin technology."
BlackRock's shares had gained about 14% so far this year, recently trading near record highs around $1,184.
Analysts at BofA Securities and BMO Capital have maintained bullish outlooks on the stock, citing its operational resilience and growth potential in alternative assets.
At 0911 EDT (1412 BST), shares in BlackRock were down 0.82% in premarket trading in New York, at $1,147.
Reporting by Josh White for Sharecast.com.
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