2025 Annual Report
A year of disciplined growth and platform expansion.
I'm Larry Fink. For nearly four decades, BlackRock has helped tens of millions of people retire with dignity, invest in their dreams, and participate in the growth of the global economy. This is our story — and our commitment to yours.
We exist to help more people experience financial well-being. Every decision, every model, every line of code in Aladdin is built around one principle: our clients' long-term interests come first.
Create a better financial future for our clients by building the most trusted investment platform in the world.
A world where every person has the tools, capital, and confidence to participate in long-term economic growth.
Lead with humility, manage with rigor, and stay relentlessly long-term — even when markets are not.
From New York to Singapore, Riyadh to São Paulo, our reach helps power retirements, infrastructure, and innovation on every continent.
Three complementary businesses, unified by the Aladdin platform and a single fiduciary standard.
Active and index strategies across equities, fixed income, multi-asset, and alternatives.
The operating system for investment management, used by clients overseeing trillions in assets.
Strategic counsel for sovereigns, pension plans, insurers, and corporations.
A live snapshot of the indicators we watch — illustrative data, drawn with the same care our portfolio managers bring to every decision.
We help clients navigate the energy transition, deploy capital into infrastructure, and harness AI — without losing sight of risk-adjusted returns.
Our leaders bring decades of investing, technology, and operating experience — and a shared belief that culture is the strategy.
"Capital should be a force for long-term progress."
"Discipline compounds. So does trust."
"Clarity in numbers; clarity in purpose."
"Technology is how fiduciaries scale."
Acting as one team, for one client at a time.
Our clients' interests come before our own — always.
Restless improvement, in markets and in ourselves.
The same intelligence our portfolio managers rely on, organized for the people who depend on us.
A year of disciplined growth and platform expansion.
Record AUM and continued operating leverage.
Why concentration risk is rising in global benchmarks.
How allocators are sizing the next decade.
Powering the energy and digital build-out.
Bringing institutional tooling to advisors everywhere.
Themes for the year ahead.
A framework for portfolio resilience.
The questions we hear most — from clients, students, and the public.
We are an investment manager and financial-technology provider. We help clients — from individuals saving for retirement to the world's largest institutions — invest, manage risk, and pursue their long-term goals.
Aladdin is BlackRock's end-to-end investment and risk platform, used by hundreds of clients globally to manage portfolios totaling tens of trillions of dollars.
We view climate risk as investment risk. We give clients choice — from low-carbon strategies to transition-focused funds — while always prioritizing risk-adjusted returns.
Client assets are held by independent custodians and segregated from BlackRock's balance sheet. Our fiduciary obligation puts your interests first by design.
Through your financial advisor, retirement plan, or directly via iShares ETFs available on major exchanges. Reach out through the contact section for institutional inquiries.
More than 70 offices across 38 countries — including New York, London, Tokyo, Hong Kong, Singapore, Frankfurt, and Sydney.
Whether you are a client, a future colleague, or a curious student — we'd love to hear from you.
Monthly market insights from the BlackRock Investment Institute.