BlackRock Inc. wants to achieve $400 billion in cumulative fundraising between 2025 and 2030, according to an investor day presentation released Thursday. The $10 trillion asset manager’s vision includes expanding its alternative investment offerings to insurers and wealth managers, leveraging its recent manager acquisitions and technology offerings.
The firm recently acquired infrastructure investor Global Infrastructure Partners ($170 billion assets under management) and expects to close its acquisition of private credit manager HPS Investment Partners ($157 billion AUM) in the third quarter.
HPS and BlackRock reported that together, as of the first quarter, they had $14 billion in fee-paying credit AUM in existing wealth management channels, a figure they hope to grow to at least $60 billion by 2030 by expanding into European direct lending, private asset-based income products and offering private credit investments across wealth management channels.
BlackRock, through its acquisition of GIP, has become the world’s largest infrastructure manager, and it sees private capital bridging the infrastructure funding gap. According to BlackRock, the world needs $94 trillion in infrastructure funding by 2040, of which a $15 trillion gap exists between the current pace of investment and what will be needed.
Want the latest institutional investment industry?news and insights? Sign up for CIO newsletters. ?
The asset manager wants to increase its annual revenue to more than $35 billion from $20 billion by the end of the decade, nearly doubling operating income to $15 billion from $8 billion and doubling its market capitalization to $280 billion from $140 billion.
Revenue derived from private markets and technology is expected to double as a percentage of BlackRock’s income. In 2024, private markets and technology accounted for 15% of the firm’s $20 billion in revenue. In 2030, BlackRock wants these businesses to account for 30% of total revenue.
Related Stories:
Kuwait Investment Authority Joins AI Infra Partnership With BlackRock, Microsoft
BlackRock Identifies 1% to 2% as Optimal Bitcoin Allocation
BlackRock More Than Doubles Private Credit Business With HPS Investment Partners Acquisition
Tags: Alternatives, BlackRock, Global Infrastructure Partners, HPS Investment Partners, Larry Fink, Private Equity
#BlackRock #Aims #400B #Private #Market #Fundraising