BlackRock reports record $15.5 trillion in assets under management

BlackRock has reached a record $15.5 trillion in assets under management (AUM) following a third quarter that saw $205 billion in net client inflows. This represents a 15% increase in AUM year-over-year.

Revenue for the quarter rose 19% to $7.75 billion. The company's flagship iShares exchange-traded funds (ETFs) accounted for $135 billion of the total inflows. BlackRock is also seeing significant movement in its private markets segment, which currently accounts for 3% of its AUM but contributes 15% of total base fees.

CEO Larry Fink noted that the firm is seeing a genuine shortage of capital globally, driven by large government deficits and rising demand for private capital to fund infrastructure and artificial intelligence development. The company also reported its first deployment of its AI Infrastructure Partnership during the quarter.