BlackRock has become the first asset manager to oversee more than $15 trillion in assets under management (AUM), underscoring the growing concentration of global investment capital in passive funds, private markets and institutional portfolios.
The New York-based firm reported $15.35 trillion in AUM at the end of June after attracting $192 billion in net inflows during the second quarter, bringing first-half inflows to a record $321 billion. Strong global equity markets also boosted portfolio values, while second-quarter revenue rose 31% year-on-year to $7.1 billion, with adjusted earnings per share reaching $13.91.
Equities account for the largest share of BlackRock’s managed assets at approximately $8.9 trillion, followed by $3.4 trillion in fixed income investments. Exchange-traded funds (ETFs), led by the firm’s iShares franchise, now represent about 41% of total assets, with iShares alone surpassing $6 trillion.
Although alternative assets—including infrastructure, private credit and private equity—represent only about 3% of BlackRock’s AUM, they generate a disproportionately larger share of management fees, reflecting the firm’s strategic expansion into higher-margin private markets.
Chief Executive Larry Fink said strong market fundamentals and continued demand for investment technology and private-market solutions leave the company “more optimistic than ever” about its long-term growth prospects.
The milestone further cements BlackRock’s position at the centre of global capital markets, with assets under management now exceeding the annual economic output of every country except the United States and China.
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