After posting the biggest fundraising year in its history, the world’s largest asset manager isn’t easing off the accelerator. BlackRock’s next act, it seems, is exactly what you’d expect — raising even more capital.
The firm now manages an extraordinary $14 trillion in assets, driven by nearly $700 billion in net inflows into its investment products last year, according to financial results released Thursday. A major driver of that growth was BlackRock’s iShares ETF business, which alone pulled in a record $181 billion in net new money in the fourth quarter of 2025 — the strongest quarter ever for the division.
During the company’s earnings call, CFO Martin Small framed the moment with confidence. “It’s not the biggest getting bigger — it’s the best getting bigger,” he said, pointing to BlackRock’s ability to keep attracting capital even as it already dominates the industry.
Determined to sustain that momentum, CEO Larry Fink and his leadership team laid out what they called an ambitious fundraising strategy for 2026. The plan centers on expanding across a wide mix of products and markets, including private investments, target-date funds, active exchange-traded funds, and solutions aimed at retirement savers outside the United States.
With record inflows behind it and an aggressive growth agenda ahead, BlackRock is signaling that its historic scale is not a finish line — but a platform for its next phase of expansion.