BlackRock has announced plans to raise $400 billion for private market investments by 2030. This is part of a long-term strategy to grow its presence in areas like private credit, infrastructure, real estate, and other non-public investments. The firm currently manages about $11.6 trillion in total assets.
Additionally, by investing more in private markets, the company hopes to increase its annual revenue to over $35 billion by 2030. For comparison, the firm earned around $20 billion in revenue in 2024. The firm also wants to double its market value from around $140 billion (at present) to $280 billion by 2030.
According to a latest report publicly shared on its website, the investment management giant aims to have private markets and technology contribute at least 30% of its total revenue by the end of the decade. These two areas currently account for about 15% of the firm’s income.
Meanwhile, to reach such targets, BlackRock has made several major investments and acquisitions in recent years. For example, in January 2024, the company announced the purchase of Global Infrastructure Partners (GIP) to expand its presence in infrastructure investing. Also in February 2024, it acquired HPS Investment Partners to strengthen its position in private credit. Then, in May 2024, BlackRock acquired Preqin (a private market data and analytics provider) to enhance its capabilities in alternative investment research and product development.
Even last year (2024), these moves helped BlackRock attract about $640 billion from investors, with around $390 billion of that going into its well-known ETF (exchange-traded fund) business. As per the company’s president, Rob Kapito, 2024 was ‘one of the most transformative years’ in BlackRock’s history. He said the firm is combining its strength in public markets with new growth in private markets and advanced technology, including platforms like Aladdin, which helps manage investment risks and data.
In the meantime, the company is also thinking about creating private market indexes, similar to those used in public ETFs. With access to Preqin’s data, the firm believes it could help investors track and invest in private assets more easily.
However, despite its ambitious plans, the firm is facing a number of challenges that could complicate its path forward. In April 2025, Moody’s issued a cautionary note, warning that BlackRock’s rapid series of acquisitions could put pressure on management capacity and eventually pressure its Aa3 credit rating. At the same time, BlackRock’s private equity operations have underperformed in recent years, falling short compared to major rivals like Blackstone and Carlyle.
The company is also facing escalating political and legal pressure over its stance on climate policy and global investment exposure. Earlier this year (2025), BlackRock withdrew from the Net-Zero Asset Managers initiative, a decision widely interpreted as a response to growing criticism from conservative lawmakers and state governments accusing the firm of pushing environmental agendas at the expense of fossil fuel industries. Tensions escalated further in March 2025, when Texas and 12 other Republican-led states filed an antitrust lawsuit, alleging that BlackRock conspired with other financial institutions to restrict investment in coal. But the company strongly denied the same.
