BlackRock will hold an investor day on Thursday that is expected to provide insight into the asset manager’s strategic priorities and its growing focus on private markets.
The world’s largest asset manager, which managed $11.58 trillion in assets at the end of the first quarter, expanded its presence in private markets last year through a series of acquisitions that BlackRock CEO Larry Fink said were transformative for the New York-based company.
BlackRock spent about $25 billion to acquire infrastructure investment fund Global Infrastructure Partners and private credit business HPS Investment Partners in 2024. The company also reached a $3.2 billion agreement to acquire British data provider Preqin. The acquisition was officially completed in March this year.
“I think investors want more details and specifics on BlackRock’s strategy to increase exposure to alternative assets,” said Cathy Seifert, an analyst covering BlackRock at CFRA Research.
BlackRock declined to comment on the focus of the investor day.
Private assets generate far higher fees than exchange-traded funds, which are a core part of BlackRock’s business through its iShares franchise.
In his 2025 letter to shareholders, BlackRock Chairman and CEO Fink said protectionism is coming back strongly because of the wealth gap, and it could be countered by giving more investors access to high-return private markets such as infrastructure and private credit.
Ben Budish, an analyst at Barclays, said he expects the company to make announcements about creating private-markets-based indices after its acquisition of private-markets data provider Preqin.
“Looking at what BlackRock has done with iShares and ETFs, is there a way to do the same with private markets? … I’m sure there will be more details to come,” he said.
Private credit — loans made to businesses by non-banks — has experienced significant growth in recent years as tighter regulation has increased the cost for traditional banks to fund riskier loans.
But U.S. President Donald Trump’s tough stance on tariffs has led to broader market volatility, slowing private market deals overall and raising concerns among some that there could be a mismatch between the money available for private lending and a lack of places to invest.
Investors may also be on the lookout for any signs of a successor at the company. Fink, 72, has served as chairman of BlackRock since he co-founded it in 1988. While Fink has signaled he has no immediate plans to step down, the recent wave of executive departures has reignited speculation about his eventual successor.
“The company should do itself a favor by emphasizing the depth and breadth of its management team, especially as its business model expands and potentially becomes more complex,” Seifert said.
