New York (Reuters) – Blackrock said Thursday targets a turnover of more than $ 35 billion by 2030, compared to $ 20 billion in 2024, thanks in particular to its acceleration on private markets.
The first asset manager in the world with 11.500 billion assets under management at the end of 2024 said in a presentation to its investors to make private markets and its technological activities its two new growth engines so that they represent more than 30% of its turnover by 2030 against 15% at the end of 2024.
Blackrock has already strengthened in the sector thanks in particular to the acquisitions of the Global Infrastructure Infrastructure Partners and Private HPS Investment Partners in 2024 dollars or the 3.2 billion dollar agreement signed in March 2025 to get hold of the British data supplier Preqin.
“The best of Blackrock is still ahead of us,” investors Rob Kapito, president of Blackrock said on Thursday, indicating that 2024 was one of the most transforming years for the asset manager.
The company also intends to double its market capitalization to $ 280 billion and collect $ 400 billion in private markets by 2030.
Private assets generate significantly higher costs than listed index funds (ETF) which are at the heart of BlackRock activities through its Ishares franchise.
“I think investors will be eager to have more details and granularity on BlackRock’s strategy in alternative assets,” said Cathy Seifert, analyst at CFRA Research, before the presentation.
In his annual letter to shareholders of 2025, Larry Fink, president and general manager of BlackRock, said that access to private markets such as infrastructure or private credit could allow investors to access better yields in a context marked by the return of protectionism.
Private credit, where non -banking institutions lend to companies, has experienced significant growth in recent years due in particular to the increase in the cost of banking financing with the more strict regulations that weigh on banks and high interest rates.
But the consequences of Donald Trump’s erratic policies which have largely slowed down the dynamics of agreements on private markets bring fear of an inadequacy between the means available on these markets and needs.
The question of the succession of Larry Fink, who co -founded the asset manager in 1982 and celebrated his 72 years, also occupied investors.
“The company would be of service by highlighting the depth and extent of its management team, especially since the business model is developing and becomes potentially more complex,” analyzes Cathy Seifert.
(Report of Davide Barbuscia in New York and Arasu Kannagi Basil in Bangalore, Bertrand de Meyer, edited by Sophie Louet)
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