BlackRock Inc, apart from being the leading global asset manager of public equities, has high aspirations in private credit.
In 2024 20 billion USDs of BlackRock's revenue came from the Private Markets and Technology segment of BlackRock's financial results or about 15 % of 2024 revenue. BlackRock aims to lift the Private Markets and Technology percentage of revenue to 30 % of revenue or 35 billion USDs by 2030.
BlackRock targets a 400 billion USD to fund raise in the 2025-2030 period.
All of the above compares with the 1.23 trillion USDs Blackstone manages and in 2025 Blackstone made 3.02 billion USD in profit on 14.21 billion USDs in revenue.
Blackrock is regarded as the world largest alternative asset manager.
BlackRock could soon surpass Blackstone.
Last week BlackRock limited withdrawals on an HPS private credit fund.
This was the latest blow for the private credit industry.
The private credit industry should be able to survive the asset withdrawal wave, provided that the AI boom goes as private credit asset managers have about 20 % of their assets exposure to artificial intelligence, AI technology companies.
If, however, AI turns out to be a bubble and bursts, defined by the S&P 500 and Nasdaq Composite falling more than 35 % and 45 % from their recent peaks many large, medium and small private equity, private credit asset managers could battle insolvency.
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