Blackrock Inc.

**Record Net Inflows and Growth**: BlackRock achieved $221 billion in net inflows during Q3 2024, marking their highest quarterly net flow ever, with organic asset growth of 8% annualized. This performance was driven by strong demand across various products, particularly in fixed income and ETFs, where the firm saw $97 billion in net inflows, contributing to a total of $248 billion year-to-date. This trend indicates strong investor confidence and positioning as we head into historically strong Q4.

**Revenue and Margin Expansion**: The firm reported quarterly revenue of $5.2 billion, a 15% increase year-over-year, while operating income rose by 26% to $2.1 billion, leading to a significantly improved operating margin of 45.8%, up 350 basis points from the prior year. This reflects effective cost management and a focus on high-margin products, with a sustained push toward higher-margin private markets.

**Acquisition Activity**: The successful acquisition of Global Infrastructure Partners (GIP) closed on October 1st, which is expected to generate approximately $250 million in management fees for BlackRock in Q4 2024. This acquisition triples infrastructure AUM and amplifies private markets capabilities, positioning BlackRock as a more integrated player in the growing private market sector.