BlackRock’s AUM Reach $13.46 Trillion in Q3 of 2025

On the back of a deal-making spree and market rally during the third quarter, the assets under management of BlackRock’s assets under management rose to $13.46 trillion for the quarter ended September 30, up from $11.48 trillion a year earlier, the company said in its earnings report on Tuesday.

Of this, the quarterly total net inflows were $205 billion, led by a record quarter for iShares ETFs, alongside private markets. The 10% annualised organic base fee growth in the quarter reflects broad-based strength across iShares ETFs, systematic active equities, private markets and outsourcing and cash.

Furthermore, the 25% increase in revenue y-o-y reflected the positive impact of markets, the 8% organic base fee growth over the last twelve months, fees related to the GIP and HPS Transactions, and higher technology services and subscription revenue.

BlackRock has closed acquisition of HPS Investment Partners (HPS) on July 1, adding $165 billion of client AUM and $118 billion of fee-paying AUM.

Strongest Quarterly Inflows

BlackRock’s Chairman and CEO Laurence D Fink said that the company has delivered one of the strongest quarterly flows results, with net inflows of $205 billion, powering 10% organic base fee growth in the third quarter and 8% over the last twelve months and that growth is even more notable in its diversification.

Top organic base fee growth contributors included their systematic franchise, private markets, digital assets, outsourcing, cash and iShares ETFs, which saw record demand. BlackRock’s multiple sources of growth differentiate were resonating through accelerating client activity across their platform, he said.

The company believes the results were a powerful validation of our hyper-local client engagement model and forward-looking investments, he said.

“BlackRock is always preparing for the future, investing ahead of client needs and in support of deepening capital markets. Technology and data analytics, ETFs, private markets, and digital assets are just a few examples where we invested and built leading positions,” he said.

He continued: “We have brought together the strengths of GIP, HPS, and Preqin, and together we are already driving landmark fundraising and deal flow, accelerating client engagement, and double-digit organic revenue growth over the last year.”

Clients around the world were coming to BlackRock for deeper, more dynamic partnerships across public and private asset classes. The AUM reached a new high of $13.5 trillion, and BlackRock’s iShares and cash franchises surpassed new AUM milestones of $5 trillion and $1 trillion, respectively, he explained.

Executing Multifaceted Mandates

The company was executing on some of the largest and most multifaceted mandates in its history, as clients choose BlackRock for portfolio management and technology across the full range of capital markets.

“We are entering our seasonally strongest fourth quarter with building momentum and a fully unified platform. One that’s anchored by a public-private investment model, backed by Aladdin technology, and united by a shared culture of performance and client service,” he said.