BlackRock Inc. reported record assets under management of $14.04 trillion in the fourth quarter of 2025, an increase from $11.55 trillion a year prior. This growth was fueled by $342 billion of total client cash inflows in the quarter, contributing to a record $698.3 billion in full-year net inflows. A significant portion of these inflows, $267.8 billion, went into long-term investment funds, with the exchange-traded fund (ETF) business alone attracting $181 billion, bringing its total to $5.5 trillion.
The company's strong performance was also bolstered by a rally in financial markets, improved profitability, and strategic acquisitions in private markets. Net profit, excluding some one-time charges, rose to $2.18 billion, or $13.16 per share, surpassing analyst expectations of $12.21 per share. Total revenue increased to $7 billion from $5.68 billion in the prior year, exceeding analyst forecasts of $6.69 billion.
BlackRock saw $126.05 billion in equity product inflows and $83.77 billion in fixed-income product inflows during the quarter, with the latter benefiting from a dovish shift by the Federal Reserve as inflation eased. The company's private markets business attracted $12.7 billion in inflows, with BlackRock targeting $400 billion in cumulative fundraising for private markets by 2030. Performance fees also surged by 67% to $754 million, reflecting increased revenue from private market ventures. The world's largest asset manager also announced a 10% increase in its quarterly dividend and an expanded share buyback authorization.
