BlackRock Finance, Inc.
blackrock.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Aug 6, 2024. Its latest SEC filing is a CERT from Apr 4, 2025.
10-Q for Q2 FY2024, filed Aug 6, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Manages client investment portfolios and provides investment, risk-management and wealth technology services to institutional and retail investors.
10-K for FY2023, filed Feb 23, 2024
How Did They Make Money?
Clients pay ongoing fees, usually based on the value of assets managed; some portfolios also generate performance fees when agreed return thresholds are exceeded. Technology customers pay fees based on the value of positions on the platform or fixed rates as services are provided; software access licenses are charged when access is granted.
10-K for FY2023, filed Feb 23, 2024Investment management fees are typically earned as a percentage of AUM. BlackRock also earns performance fees on certain portfolios…View ↗
Investment Advisory, Administration Fees and Securities Lending Revenue. Investment advisory and administration fees are recognized as the…View ↗
Investment Advisory Performance Fees / Carried Interest. The Company receives investment advisory performance fees, including incentive…View ↗
Technology services revenue. The Company offers investment management technology systems, risk management services, wealth management and…View ↗
$11B
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10-K for FY2023, filed Feb 23, 2024
$11B ↗
Who Were Their Customers?
Institutional investors and retail investors use BlackRock’s investment products and services. Retail investors are served mainly through intermediaries such as brokers, banks and financial advisers; BlackRock also markets directly to investors and through financial professionals and pension consultants.
10-K for FY2023, filed Feb 23, 2024BlackRock serves a diverse mix of institutional and retail clients across the globe. Clients include tax-exempt institutions, such as…View ↗
BlackRock maintains a significant global sales and marketing presence that is focused on establishing and maintaining retail and…View ↗
BlackRock serves retail investors globally through a wide array of products across the investment spectrum, including separate accounts…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 50 cents of every revenue dollar as net income in FY2023 and turned 35 cents into free cash flow.
10-K for FY2023, filed Feb 23, 2024
$6.3BView ↗
10-K for FY2023, filed Feb 23, 2024
$5.5BView ↗
10-K for FY2023, filed Feb 23, 2024
$3.8BView ↗
How Were They Changing?
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Oct 1, 2024
BlackRock became a subsidiary of New BlackRock in a merger
The merger changed BlackRock, Inc.’s name to BlackRock Finance, Inc.
Sources
8-K, filed Oct 1, 2024
As a result of the consummation of the Merger, a change of control of the registrant occurred and Old BlackRock became a wholly owned…View ↗
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Jul 1, 2024
BlackRock agreed to acquire Preqin
The acquisition of the private-markets data provider is subject to regulatory approvals and customary closing conditions.
Sources
8-K, filed Jul 1, 2024
NEW YORK, LONDON – June 30, 2024 – BlackRock, Inc. (NYSE: BLK) has agreed to acquire Preqin, a leading independent provider of private…View ↗
Shrank. Revenue fell 24% in 4 years, from $14.5B in FY2019 to $11B in FY2023, about 7% a year.
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