Posted 4/12/2024, 1:29:37 PM
BlackRock Assets Top $10 Trillion Despite Slowing Inflows as Aladdin Tech Fuels Profit Growth
- BlackRock assets under management (AUM) hit record $10.5 trillion in Q1 2022 as markets rebounded
- Profits jumped 36% driven by higher investment advisory and administration fees from larger AUM
- Acquiring Global Infrastructure Partners for $12.5B to expand into infrastructure investments
- Net inflows fell to $57B (vs $110B last year) partly due to seasonal outflows from money market funds
- Revenue grew 11% to $4.73B on higher performance fees and demand for Aladdin investment technology platform