Blackrock (NASDAQ:BLK), the world’s largest asset manager, reported over $11.6 trillion in assets as of the fourth quarter – a record amount. The growth in assets fueled a rise in earnings of $1.67 billion, or an EPS of $10.63, from $1.38 billion, or an EPS of $9.15.
Net inflows topped $281 billion – another record.
Expectations are for Blackrock to push further into private markets, exemplified by its purchase of Prequin, which may include private equity, private credit, and more. Prequin provides data on private markets – at the global level.
Myles Milston, co-founder and CEO, of Globacap – a tech firm that aims to bring efficiency to private markets, shared a comment on Blackrock’s performance.
“The success of Blackrock’s private markets push will spur other market players to double down on these assets, leading to huge growth in 2025. With private markets growing at double the rate of public markets and advancements in technology simplifying access to lucrative private asset classes, the momentum is undeniable. It’s not just asset managers driving this growth; we’ve seen significant increases in allocations from private wealth, pension funds, and more. Private markets have evolved beyond merely being an inflationary hedge—they’re rapidly becoming the crown jewel of modern investment portfolios.”
In the US, public market growth has slowed while private markets have boomed. This reflects simple economics as investors seek yield, and private markets have delivered while public markets have been harmed by overly aggressive regulation. This is fine, except for smaller investors that tend to get excluded from the growth paradigm.
