BlackRock’s acquisition of Barclays Global Investors, which closed on 1 December 2009, contributed $94 million to its fourth-quarter net income, more than offset by a $108 million after-tax expense and the integration costs associated with the deal, BlackRock said in a statement.

Fourth-quarter 2009 net income, when the BGI transaction was taken into account, was $379 million, up from $90 million the previous year – a rise of 321 per cent.

Revenue for the final quarter of last year was $1.54 billion, up from $1.06 billion a year before, representing a rise of 45 per cent.

Full-year comparisons between 2008 and 2009 were as follows: non-adjusted net income for 2009 was $875 million, rising 12 per cent from $784 million for 2008; adjusted net income $1.02 billion for last year, up 19 per cent from $856 million in 2008; and 2009’s revenue was $4.70 billion, compared to $5.06 billion for 2008 (a fall of 7 per cent).

BlackRock’s assets under management stood at $3.35 trillion at end-2009, having been $1.43 at the end of the third quarter and $1.31 trillion at 31 December 2008 – a quarterly rise of 133 per cent, and a year-on-year surge of 156 per cent.

“BlackRock’s performance in 2009 was strong by any measure. Adjusted earnings per share increased 13 per cent, investment performance was competitive across a broad array of products, and our work with clients was rewarded with $155.7 billion of combined net new business and 48 net new assignments in BlackRock Solutions,” said Laurence Fink, chairman and chief executive of BlackRock, who added that the integration of BlackRock and BGI is “off to a strong start".