Blackrock attracted a total of 342 billion dollar in client inflows in the fourth quarter, the US company said on Thursday. As a result, assets under management rose to a record 14 trillion dollar by year-end. Full-year profit amounted to 7,7 billion dollar.

A series of acquisitions over the past year helped drive growth, strengthening the firm’s position in the private equity market in particular. Investors added a net 268 billion dollar to Blackrock’s long-term investment funds. Of this amount, 181 billion dollar flowed into the exchange-traded fund (ETF) business, which now totals 5,5 trillion dollar in assets.

Strong Inflows

With the final quarter, total full-year inflows – including money market and cash management funds – increased to 698 billion dollar, marking a new record.

The results also include Citigroup’s outsourcing deal. The US bank transferred the management of around 80 billion dollar in assets belonging to its wealthy clients to Blackrock.

«Clients around the world want to achieve more with Blackrock,» said Chief Executive Officer Larry Fink in the statement. «Our business pipeline has expanded across products and regions and now spans public and private markets, technology and data, as well as client channels.»

Acquisitions Drive Costs Higher

Adjusted earnings per share rose by 10 per cent year on year in the quarter to 13,16 dollar. Revenue increased by 23 per cent compared with the same period last year to 7 billion dollar.

Quarterly costs climbed by 48 per cent year on year to 5,3 billion dollar, reflecting the company’s aggressive expansion. The quarterly cash dividend will increase by 10 per cent to 5,73 dollar per share.

Strong Growth in Private Markets

In 2025, the company spent around 28 billion dollar on the acquisitions of Global Infrastructure Partners, HPS Investment Partners and Preqin.

Already a dominant player in equities, fixed income and public markets, the asset manager is now also becoming one of the world’s largest firms in private credit and infrastructure. Blackrock’s private markets revenue roughly doubled year on year to around 2,4 billion dollar in the full year.