BlackRock’s Net Inflows Stood at $641 Billion in 2024
- Business Companies Investments World
Global Business Magazine- 6 minutes read
BlackRock, one of the world’s preeminent asset management firms, on Monday said that it had closed 2024 with back-to-back record net inflow quarters, ending the year with $281 billion of net inflows in the fourth quarter for 7% organic base fee growth.
In his 2025 annual letter to the investors, BlackRock Chairman Larry Fink said that last year was a milestone year for the company as the clients entrusted them with a record $641 billion of net inflows. The company has added $1.5 trillion to AUM, and delivered record revenue and operating income, alongside a 29% total return for our shareholders.
This organic growth was broad-based across institutional, wealth, and regions. Clients want to consolidate more of their portfolios with a partner that is with them for the long term as they work toward their own commercial ambitions and portfolio goals.
The clients want portfolios that are seamlessly integrated across public and private markets, that are dynamic, and that are underpinned by data, risk management and technology, he said in the letter detailing the company’s performance during the past year.
“This historic client activity took place as we executed on the most significant acquisitions we have done since BGI more than 15 years ago. Our closings of GIP and Preqin, and planned acquisition of HPS later this year, are expected to scale and enhance our private markets investment and data capabilities,” he said.
He said that last fall, BlackRock celebrated the 25th anniversary of its initial public offering (IPO), and at that time, there were just 650 employees and the stock was listed at $14 a share. We managed $165 billion of primarily fixed income-based assets for our clients, and we had just started selling Aladdin’s technology externally.
“Today, we manage $11.6 trillion for our clients, and Aladdin generates more than $1.6 billion in annual revenue. Our employee base is now almost 23,000 strong, with offices in more than 30 countries. Our stock ended 2024 at over $1,000 per share. But even 25 years since our IPO and 37 since our founding, this is in many ways just the beginning of the BlackRock story,” he pointed out.
Clients have always been at the center of the company’s strategy, and they have intentionally invested to serve the full breadth of their needs. They have built a differentiated asset management and fintech platform that is fully integrated across both public and private markets.
Following their planned acquisition of HPS, they expect BlackRock’s alternatives platform to become a top five provider for clients, with $600 billion in client assets and over $3 billion in annual revenue. That will be integrated with BlackRock’s platform that already houses the world’s #1 global ETF franchise, $3 trillion in fixed income, a $700 billion insurance asset management practice, advisory services, and our proven Aladdin technology.
“Our track record of successful acquisitions and integrations is deepening our clients’ relationships with BlackRock. Our ETF franchise delivered record net inflows of $390 billion, which again led the industry. Since our acquisition of iShares, BlackRock has led in expanding the market for ETFs by delivering new asset classes like bonds or cryptocurrencies, alongside innovative investment products like active strategies in a more liquid and transparent vehicle,” he said.
Around a quarter of ETF net inflows were into products launched in the last five years. BlackRock’s active ETFs delivered $22 billion in net inflows in 2024, while BlackRock’s US-based Bitcoin exchange-traded product (ETP) was the largest exchange-traded product launch in history, growing to over $50 billion of AUM in less than a year.
Fixed Income
In fixed income, clients are turning to BlackRock to navigate a transitional rate environment, driving $164 billion of net inflows last year. We see a significant reallocation opportunity for the record $10 trillion of cash held on the side lines, as many investors will need yields beyond the 4% currently earned in a money-market account in order to meet long-term goals like retirement.
Our clients continue to increase their allocations to private markets as a source of diversification and uncorrelated alpha generation potential. Private markets net inflows of $9 billion included strong demand for infrastructure and private credit strategies.
Client feedback surrounding the recent and planned acquisitions of GIP and HPS has exceeded even our own high expectations, and we expect these to drive significant future net inflows and revenue growth in 2025 and beyond, he said.
