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 Private Equity Wire. Chairman and chief executive Larry Fink said BlackRock’s ability to originate and structure transactions at scale was generating financing relationships and investment opportunities.
Q3 inflows exceeded analyst expectations
BlackRock reported $15.3bn of private markets inflows in the third quarter, compared with analyst expectations of $12.2bn, according to Private Equity Wire. The inflows came as the firm expanded its financing activities and deployed capital from its AI infrastructure fund.
AI infrastructure fund makes first deployment
BlackRock’s AI infrastructure fund made its first deployment during the quarter, according to Private Equity Wire. The report did not provide details of the investment.
Fink discusses market for financing AI chips and computing equipment
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, according to the same report. Fink said BlackRock is already working with major technology companies on financing arrangements.
BlackRock sees an opportunity to package loans backed by computing equipment into securities for sale to a broader pool of investors, according to the report.
AUM reaches $15.49tn; revenue and adjusted net income rise
BlackRock’s assets under management increased 15% year on year to a record $15.49tn, according to Private Equity Wire. Revenue rose 19% to $7.75bn.
Adjusted net income reached $2.62bn, or $15.93 per share, ahead of the $14.15 per share forecast, according to the report.
