BlackRock Targets $400 Billion Private Market Fundraising by 2030

BlackRock set an ambitious $400 billion fundraising target for its private investment business,  part of its plans to double its market capitalization to $280 billion by 2030.

The world’s biggest asset manager aspires to generate at least $35 billion a year in revenue by 2030, compared with $20 billion in 2024, according to a presentation posted on its website Thursday ahead of its investor day. This goal is largely fueled by hopes that BlackRock’s private markets business, plus its business selling data and portfolio management technology, will generate 30% of revenue, up from 15% at the end of last year.

BlackRock has spent $28 billion over the past year on acquiring private-asset firms including Global Infrastructure Partners, private credit shop HPS Investment Partners and data provider Preqin to muscle deeper into private market investing long dominated by buyout shops like KKR and Blackstone.