BlackRock assets surge to $14 trillion record as it looks to private markets

By Jamie Chisholm

Strong stock markets have boosted assets under management

Pictured is BlackRock Chairman and CEO Larry Fink. BlackRock's assets under management surged to a record $14 trillion at the end of 2025.

A previous version of this story incorrectly spelled Laurence Fink's first name, and the AUM increase in net inflows was incorrectly implied as being partly driven by market valuations. The story has been corrected.

BlackRock's assets under management jumped to a record $14 trillion at the end of last year, as investors rushed into the company's exchange traded funds and global stock markets rallied.

The world's biggest asset manager (BLK) said on Thursday that assets under management (AUM) increased by a record $698 billion of full year net inflows, including $342 billion in the fourth quarter. AUM were $11.55 trillion at the end of 2024.

BlackRock Chairman and CEO Laurence Fink said the company "enters 2026 with accelerating momentum across our entire platform," which now includes the recently acquired private investment managers Global Infrastructure Partners and HPS Investment Partners, as well as Preqin, which tracks the alternative asset industry.

"Our pipeline of business has broadened across products and regions, spanning public and private markets mandates, technology and data, and client channels. We're seeing excellent fundraising activity as we work toward our goal of $400 billion in private markets fundraising by 2030," said Fink.

Revenue in the fourth quarter rose 23% to $7 billion, taking full-year revenue to $24.2 billion, up 19% from 2024. Adjusted earnings per share was $13.16 in the fourth quarter, up 10% from a year earlier, and higher than analysts forecast of $12.19, according to FactSet.

BlackRock said it would increase its quarterly cash dividend by 10% to $5.73 per share. Based on current stock prices, that would boost the dividend yield to 1.99%, which compares with the implied yield for the S&P 500 index SPX of 1.13%.

Investors welcomed the earnings, outlook and dividend hike, with the stock gaining 5.4% in recent afternoon trading. That puts it on track for the biggest one-day gain since it rallied 10% on April 9, 2025.

The stock has climbed 13.5% over the last 12 months. The analyst target price consensus is $1,271, according to FactSet, which implies 10.5% upside from current levels.

-Jamie Chisholm

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