Key Takeaways
- • BlackRock attracted $15.3bn in private markets inflows in the third quarter, above analyst expectations of $12.2bn, according to Yahoo Finance.
- • Larry Fink outlined plans to build a market for financing AI chips and computing equipment, comparing the opportunity to the growth of mortgage-backed securities in the 1980s.
- • BlackRock is already working with major technology companies on financing arrangements and sees potential to package equipment-backed loans into securities for a broader investor pool.
- • The firm's AI infrastructure fund made its first deployment during the quarter, though details of the investment were not disclosed.
- • Assets under management rose 15% year on year to a record $15.49tn, with revenue up 19% to $7.75bn and adjusted net income of $2.62bn, or $15.93 per share, versus a $14.15 forecast.
Summary
BlackRock attracted $15.3bn in private markets inflows during the third quarter, exceeding analyst expectations of $12.2bn, as the firm expanded its financing activities and deployed capital from its AI infrastructure fund, according to a report by Yahoo Finance.
Chairman and chief executive Larry Fink said the firm's ability to originate and structure transactions at scale was generating financing relationships and investment opportunities. The AI infrastructure fund made its first deployment during the quarter, although the report did not provide details of the investment.
Speaking to analysts, Fink outlined plans to develop a market for financing AI chips and computing equipment, drawing a comparison with the growth of mortgage-backed securities in the 1980s. He said BlackRock is already working with major technology companies on financing arrangements, and the firm sees an opportunity to package loans backed by computing equipment into securities for sale to a broader pool of investors.
BlackRock's assets under management increased 15% year on year to a record $15.49tn. Revenue rose 19% to $7.75bn, while adjusted net income reached $2.62bn, or $15.93 per share, ahead of the $14.15 per share forecast.
Chairman and chief executive Larry Fink said the firm's ability to originate and structure transactions at scale was generating financing relationships and investment opportunities. The AI infrastructure fund made its first deployment during the quarter, although the report did not provide details of the investment.
Speaking to analysts, Fink outlined plans to develop a market for financing AI chips and computing equipment, drawing a comparison with the growth of mortgage-backed securities in the 1980s. He said BlackRock is already working with major technology companies on financing arrangements, and the firm sees an opportunity to package loans backed by computing equipment into securities for sale to a broader pool of investors.
BlackRock's assets under management increased 15% year on year to a record $15.49tn. Revenue rose 19% to $7.75bn, while adjusted net income reached $2.62bn, or $15.93 per share, ahead of the $14.15 per share forecast.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.