BlackRock, Inc. is a leading publicly traded investment management firm that offers a wide range of investment management and technology services to institutional and retail clients globally. The company provides a diverse array of alpha-seeking active, index, and cash management investment strategies across various asset classes, allowing for tailored investment and asset allocation solutions. BlackRock's offerings include single- and multi-asset portfolios in equities, fixed income, alternatives, and money market instruments, available through various vehicles such as mutual funds, ETFs, and other pooled investment vehicles . Additionally, BlackRock offers technology services, including the Aladdin® platform, and advisory services to institutional and wealth management clients .
- Equity Products - Offers investment strategies focused on equity markets, providing both active and index-based solutions to capture market opportunities.
- Fixed Income Products - Provides investment strategies in fixed income markets, including government and corporate bonds, to generate stable returns.
- Alternatives - Delivers investment options in alternative asset classes, such as private equity and real estate, for diversification and potential higher returns.
- Multi-Asset Products - Combines various asset classes into single portfolios to achieve diversified investment objectives.
- Technology Services - Offers investment and risk management technology platforms like Aladdin®, Aladdin Wealth, eFront, and Cachematrix, enhancing decision-making and operational efficiency.
- Distribution Fees - Involves fees related to the distribution of BlackRock's investment products through various channels.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Laurence D. Fink ExecutiveBoard | Chairman and CEO | None mentioned | Co-founder of BlackRock in 1988, instrumental in its growth to $11.6 trillion AUM, led IPO and major acquisitions. | View Report → |
Caroline Heller Executive | Senior Managing Director, Global Head of Human Resources | None mentioned | Leads HR globally, no additional details provided in the documents. | |
Christopher J. Meade Executive | Senior Managing Director, Chief Legal Officer, and General Counsel | None mentioned | Oversees legal and compliance functions, no additional details provided in the documents. | |
J. Richard Kushel Executive | Senior Managing Director, Head of Portfolio Management Group | None mentioned | Leads BlackRock's Portfolio Management Group, no additional details provided in the documents. | |
Martin S. Small Executive | Senior Managing Director and CFO | None mentioned | Former Head of U.S. Wealth Advisory and U.S./Canada iShares, now oversees financial operations as CFO. | |
Rachel Lord Executive | Senior Managing Director, Head of International | None mentioned | Oversees BlackRock's international business, managing $3.5 trillion in assets outside the U.S.. | |
Robert L. Goldstein Executive | Senior Managing Director and COO | None mentioned | Current COO, no additional details provided in the documents. | |
Robert S. Kapito Executive | President | None mentioned | Longtime leader at BlackRock, no additional details provided in the documents. | |
Stephen Cohen Executive | Senior Managing Director and Chief Product Officer | None mentioned | Based in London, oversees product strategy, no additional details provided in the documents. | |
Amin H. Nasser Board | Director | President and CEO of Saudi Aramco | Director at BlackRock, also leads Saudi Aramco. | |
Charles H. Robbins Board | Director | Chairman and CEO of Cisco Systems, Inc. | Director at BlackRock, also leads Cisco Systems. | |
Cheryl D. Mills Board | Director | President and CEO of BlackIvy Group LLC | Director at BlackRock, also leads BlackIvy Group, focused on businesses in Sub-Saharan Africa. | |
Fabrizio Freda Board | Director | President and CEO of The Estée Lauder Companies Inc. | Director at BlackRock, also leads Estée Lauder Companies. | |
Hans E. Vestberg Board | Director | Chairman and CEO of Verizon Communications Inc. | Director at BlackRock, also leads Verizon Communications. | |
Kristin Peck Board | Director | CEO of Zoetis Inc. | Director at BlackRock, also leads Zoetis Inc.. | |
Marco Antonio Slim Domit Board | Director | Chairman of Grupo Financiero Inbursa, S.A.B. de C.V. | Director at BlackRock, also leads Grupo Financiero Inbursa. | |
Margaret L. Johnson Board | Director | None mentioned | Director at BlackRock, no additional details provided in the documents. | |
Mark Wilson Board | Director | None mentioned | Former CEO of Aviva plc and AIA Group Ltd, now a director at BlackRock. | |
Murry S. Gerber Board | Director | None mentioned | Former CEO of EQT Corporation, now a director at BlackRock. | |
Pamela Daley Board | Director | None mentioned | Chair of BlackRock's Audit Committee, former Senior VP of Corporate Business Development at GE. | |
Susan L. Wagner Board | Director | None mentioned | Co-founder and former Vice Chairman of BlackRock, now a director. | |
William E. Ford Board | Director | Chairman and CEO of General Atlantic | Director at BlackRock, also leads General Atlantic, a global growth equity firm. |
- How are you pacing your investment spend into 2025, and what specific levers do you have to drive margin expansion over the next 12 to 18 months, particularly regarding variabilizing your expenses?
- With recent acquisitions like GIP and the pending Preqin deal, what is your appetite for additional M&A, and what financial or management constraints do you face in integrating these transactions effectively to maximize their potential?
- Given recent regulatory issues at a large institutional bond manager, have you seen any changes in RFP activity on the fixed income side, and how is BlackRock positioning itself to capture potential opportunities arising from this situation?
- Despite strong growth and high margins, why did earnings per share grow only 5% this quarter, and should we expect your initiatives and consistent base fee targets to result in higher earnings growth going forward?
- With the possibility of a more favorable regulatory environment for digital assets, what are your key ambitions and strategies in this space beyond ETFs and custody, and how do you plan to capitalize on the opportunities that such regulatory changes might unlock?
Research analysts who have asked questions during BlackRock earnings calls.
Alexander Blostein
Goldman Sachs
5 questions for BLK
Craig Siegenthaler
Bank of America
5 questions for BLK
Michael Cyprys
Morgan Stanley
5 questions for BLK
Brian Bedell
Deutsche Bank
4 questions for BLK
Daniel Fannon
Jefferies Financial Group Inc.
4 questions for BLK
William Katz
TD Cowen
4 questions for BLK
Benjamin Budish
Barclays PLC
3 questions for BLK
Patrick Davitt
Autonomous Research
3 questions for BLK
Michael Brown
Wells Fargo Securities
2 questions for BLK
Brennan Hawken
UBS Group AG
1 question for BLK
Glenn Schorr
Evercore ISI
1 question for BLK
Kenneth Worthington
JPMorgan Chase & Co.
1 question for BLK
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Preqin | 2025 | BlackRock’s acquisition of Preqin is designed to enhance its private markets investment and data capabilities by leveraging Preqin’s extensive database of 190,000 funds, 60,000 managers, and 30,000+ limited partners, positioning the firm to create investable indexes and advanced risk models. |
HPS Investment Partners | 2025 | The acquisition of HPS Investment Partners aims to create an integrated private credit franchise with about $220 billion in pro-forma client assets, expanding BlackRock’s exposure in insurance and private wealth channels and expecting mid-2025 closing subject to standard approvals. |
Global Infrastructure Partners | 2024 | Completed on October 1, 2024, this acquisition involved $3 billion in cash plus 12 million shares (with 30% deferred), significantly boosting BlackRock’s client and fee-paying AUM and enhancing its global infrastructure investment platform. |
SpiderRock Advisors | 2024 | Finalized in May 2024, BlackRock acquired the remaining equity in SpiderRock Advisors to strengthen its U.S. wealth market offerings and separately managed accounts, adding $131 million in goodwill along with valuable customer relationships and technology intangibles, plus a noncash pre-tax gain. |
Kreos Capital | 2023 | Acquired in 2023, this deal brought venture debt financing capabilities in Europe into BlackRock’s portfolio, supporting its strategy to scale its private markets and credit offerings, with the transaction expected to close in Q3 2023. |
Recent press releases and 8-K filings for BLK.
- 60/40 portfolios have seen a 70% increase in volatility and stocks and bonds now move together about 70% of the time, up from 50% pre-pandemic
- Long-duration bonds (>7-year maturities) have lost their traditional negative correlation with equities, reducing risk-hedging benefits
- Advocates sourcing duration and yield from the belly of the curve via multi-sector core-plus bond strategies, such as an active ETF offering ~6% yield with limited duration risk
- Forecasted Fed rate cuts later this month and in December should make bond income more attractive than cash holdings
- BlackRock has completed acquisition of ElmTree Funds, integrating the firm into its Private Financing Solutions (PFS) platform.
- The deal enhances PFS’s offerings in the commercial net-lease sector, expanding client access to long-dated contractual income solutions.
- ElmTree, a St. Louis–based real estate private equity firm founded in 2011, specializes in net-lease and build-to-suit industrial properties across primary and secondary U.S. markets.
- James Koman will continue to lead ElmTree’s investment strategies within BlackRock’s PFS business, ensuring continuity of leadership.
- Global Infrastructure Partners, BlackRock’s infrastructure arm, has entered a definitive agreement to acquire a 49.99% stake in Eni CCUS Holding.
- Eni CCUS Holding is a global platform specializing in carbon capture, utilization, and storage (CCUS).
- The portfolio includes the Liverpool Bay and Bacton projects in the UK, the L10 project in the Netherlands, and an option on the Ravenna CSS project in Italy.
- SharpLink launched its ETH treasury strategy on June 2, 2025, raising $2.6 billion to acquire 728,804 ETH, staking nearly 100% to date for 1,326 ETH in rewards and boosting its ETH Concentration metric by 98% to 3.95
- Q2 2025 financials: Revenue of $0.7 million (down from $1.0 million in Q2 2024), gross profit $0.2 million (30% margin), and net loss $103.4 million (vs. $0.5 million loss in Q2 2024)
- Recorded a $87.8 million non-cash impairment on liquid staked ETH (LsETH), reducing LsETH carrying value to $382.4 million as of June 30, 2025
- Appointed Ethereum co-founder Joseph Lubin as Chairman and former BlackRock digital assets lead Joseph Chalom as Co-CEO, and entered a strategic partnership with Consensys
- Rick Rieder says the market offers the "best investing environment ever" due to strong earnings, record stock buybacks and ~$7 trillion in cash ready to flow into equities as rates decline.
- The Fed is seen cutting rates by 25 bps in September with 99.9% probability, supporting a positive yield curve and 6.5%–7% fixed-income yields.
- Equities exhibit low volatility and strong demand vs supply dynamics, though reliance on major tech stocks raises market-breadth concerns.
- 81% of S&P 500 companies beat Q2 earnings estimates—above the 10-year average and potentially the best season since 2023.
- 14 BlackRock closed-end funds declared monthly distributions per share on July 31, 2025, ranging from $0.0426 (BGY) to $0.29365 (ECAT).
- Distributions are funded through a mix of net income, net realized gains and/or return of capital under each fund’s managed distribution plan; e.g., BCX’s July payout was 98% return of capital, BDJ’s was 80% long-term gains.
- For the fiscal year through July 31, 2025, year-to-date distributions totaled $0.4333 (BDJ) to $2.11426 (ECAT), with up to 100% return of capital for certain term trusts (BMEZ, BSTZ, BTX).
- As of June 30, 2025, 5-year average annual NAV returns ranged from 0.70% (BMEZ) to 18.53% (BGR), and annualized distribution rates of NAV spanned 6.54% (BUI) to 13.09% (BMEZ).
- Zohran Mamdani, an avowed socialist, led the first round of the New York City Democratic mayoral primary with 44% of a 1 million-vote turnout.
- Betting markets now assign a 75% probability that Mamdani will win the November general election in the heavily Democratic city.
- The November ballot will include four candidates, with Andrew Cuomo and incumbent Mayor Eric Adams each running on separate party lines, raising the possibility of a split centrist vote.
- 401(k) target-date funds launching early 2026 will include 5–20% allocations to private equity and credit, tapering to 5–10% as investors near retirement.
- Partnership with Quintet Private Bank deepens access for European clients to private equity, private credit, and real assets, with a UK rollout planned by year-end.
- Quintet, owned by Qatar’s Al Thani family, has grown AUM to €100.6 billion at end-2023, supported by €350 million in capital injections since 2012.
- BlackRock research projects a 0.5% annual return boost, potentially increasing retirement savings by up to 15% over 40 years.
- Since June 2023, clients have entrusted BlackRock with $900 billion of net inflows, including $640 billion in 2024, generating $800 million in net new base fees.
- Management targets 5%+ organic base fee growth and 45%+ operating margin over the market cycle, aiming for >$35 billion in annual revenue, and to double operating income and market cap by 2030.
- Private markets and technology are expected to account for ~20% of revenue upon the close of the HPS acquisition (July 1, 2025) and to exceed 30% by 2030, driven by GIP and Prequen integrations.
- The Aladdin platform delivered $1.6 billion of technology services revenue in 2024, with ACV up 14% YoY in Q1 2025 (98% recurring; low-to-mid teens organic ACV growth target).
- US iShares AUM surpassed $3 trillion in 2024, fueled by ETF adoption and new products like iBit, which reached $70 billion in AUM with ~1 million investors (75% new to iShares; 27% cross-sold).
- IBIT became the fastest-growing ETF in history, reaching $70 billion in assets under management in 341 trading days
- The ETF holds 661,457 BTC, surpassing major players like Binance (629,190 BTC) and Michael Saylor’s Strategy (582,000 BTC)
- After a 31-day inflow streak, IBIT recorded its largest single-day outflow of $431 million on May 30
- Bitcoin ETFs saw a net inflow of over $350 million following Bitcoin’s breakout above $105,000, with Fidelity’s FBTC fund leading in single-day inflows
- On June 10, 2025, BlackRock reported a $120.9 million inflow into IBIT amid a Nasdaq rally and a 2.3% Bitcoin price increase