New York-headquartered investment manager BlackRock has released its third quarter earnings report, showing that assets under management reached a new high.

BlackRock announced yesterday that its assets under management (AuM) reached a new high of $13.5 trillion in the third quarter of 2025, up from $11.48 trillion a year earlier.

There was a 25 per cent increase in revenue year-over-year for the third quarter of 2025, reaching $6.5 billion up from $5.2 billion. The rise reflects the positive impact of markets, 8 per cent organic base fee growth over the last twelve months, fees related to the acquisitions of Global Infrastructure Partners (GIP) and HPS Investment Partners transactions, and higher technology services and subscription revenue, the firm said in a statement.

Laurence Fink, chairman and CEO, said the firm had delivered one of its strongest quarterly flows results, with net inflows of $205 billion, powering 10 per cent organic base fee growth in the third quarter and 8 per cent over the last twelve months. “That growth is even more notable in its diversification. Top organic base fee growth contributors included our systematic franchise, private markets, digital assets, outsourcing, cash and iShares exchange-traded funds (ETFs), which saw record demand,” Fink said.

“BlackRock is always preparing for the future, investing ahead of client needs and in support of deepening capital markets,” Fink continued. “Technology and data analytics, ETFs, private markets, and digital assets are just a few examples where we invested and built leading positions.”

“We’ve brought together the strengths of GIP, HPS, and Preqin, and together we’re already driving landmark fundraising and deal flow, accelerating client engagement, and double-digit organic revenue growth over the last year,” Fink said. “AuM reached a new high of $13.5 trillion, and our iShares and cash franchises surpassed new AuM milestones of $5 trillion and $1 trillion, respectively.”

“We’re entering our seasonally strongest fourth quarter with building momentum and a fully unified platform,” he added.

BlackRock also reported a 23 per cent rise in year-over-year as adjusted operating income and a 1 per cent increase in year-over-year as adjusted diluted earnings-per-share (EPS) also reflect lower nonoperating income and a higher diluted share count, partially offset by a lower effective tax rate in the current quarter.

There was also $375 million of share repurchases in the current quarter as well as the closed acquisition of HPS Investment Partners on 1 July, adding $165 billion of client AuM and $118 billion of fee-paying AuM.