BlackRock Inc. (NYSE: BLK) reported a surge in assets under management to a record $12.5 trillion in the second quarter, as investors returned to markets after a volatile period triggered by President Trump’s tariff policies.
The firm attracted $68 billion in total net inflows, including $46 billion into long-term investment funds and $22 billion into cash and money-market products, according to a Tuesday statement. Exchange-traded funds (ETFs) brought in $85 billion, while equities attracted $29 billion. However, long-term net inflows were slightly below estimates due to a $52 billion redemption by a single institutional client from a low-fee index fund.
CEO Larry Fink highlighted that BlackRock’s diversification into private markets and alternatives is driving growth. The firm added $9.8 billion in alternative investments and completed a $12 billion acquisition of HPS Investment Partners, boosting BlackRock’s private credit assets.
BlackRock also surpassed its fundraising target for Global Infrastructure Partners’ (GIP) fifth flagship fund, raising $25.2 billion. With recent acquisitions, BlackRock now manages over $600 billion in alternative investments and plans to raise another $400 billion by 2030.
Earnings per share rose 16% to $12.05, beating analyst expectations of $10.87. Revenue climbed 13% to $5.4 billion, fueled by higher fees from new acquisitions and market gains.
Shares of BlackRock have gained 8.4% this year, outpacing the S&P 500’s 6.6% increase.