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BlackRock assets hit record $10.5 trillion as markets surge

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BlackRock assets hit record $10.5 trillion as markets surge

BlackRock, the world's largest asset manager, reported record assets under management (AUM) of $10.5 trillion in Q1, with a 36% jump in profit. This growth was driven by a rebound in global equity markets that boosted investment advisory and administration fees. BlackRock's AUM grew 15% from the previous year, while investment advisory and administration fees increased almost 8.8% to $3.63 billion. The company's CEO, Larry Fink, expressed optimism for BlackRock's future and highlighted opportunities in areas such as artificial intelligence and emerging markets. BlackRock also announced the acquisition of Global Infrastructure Partners for $12.5 billion to expand into private markets and alternative assets.

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