BlackRock’s assets under management surged to a record $13.5tn in the third quarter, bolstered by strong inflows across its iShares exchange traded fund business and a rally that helped lift global markets.
The world’s largest asset manager said on Tuesday that it drew $205bn of new capital from clients in the three months to the end of September, driven heavily by its ETF platform, which eclipsed $5tn in assets for the first time.
The company also reported the fruits of a near $30bn acquisition spree in which it bought private investment managers Global Infrastructure Partners and HPS Investment Partners, as well as Preqin, which tracks the alternative asset industry.