The Larry Fink-led firm's historic haul, driven by strong ETF flows, comes amid deals to muscle into the alternatives and private assets space.

BlackRock's quarterly results complete a banner year for the asset manager, which has sought to strengthen its position in rapidly growing private markets. It spent about $25 billion last year on infrastructure investment fund Global Infrastructure Partners and private credit business HPS Investment Partners.

BlackRock has reported a strong fourth quarter (Q4 2024), with profit surging 21% year-on-year and assets hitting $11.6tn.

Investment management giant BlackRock (NYSE:BLK) reported fourth-quarter and full-year earnings on Wednesday, Jan. 15, that topped analysts' consensus estimates on both top and bottom lines. BlackRock's adjusted earnings per share (EPS) for the quarter hit $11.

BlackRock's assets reached a record in the fourth quarter of over $11 trillion, driven by a more than 20% profit increase. The world's largest money manager saw assets rise from nearly $10 trillion a year ago.