BlackRock

Overview

Headquartered in New York City and created in 1988 as a subsidiary of financial firm Blackstone, BlackRock is one of the largest asset managers in the world. Today, BlackRock is a publicly traded company that invests clients' capital in a range of investments, including stocks, bonds, exchange-traded funds, and mutual funds. As of July 2026, BlackRock oversaw more than $15T.

BlackRock's clients are typically institutional investors, although it offers products for retail investors as well. Because the asset manager invests for such a large client base, it's known for holding a large stake in many public companies. BlackRock primarily makes money via "management fees," or a percentage of the assets it manages on behalf of each client. On some funds, BlackRock also charges a "performance fee" if returns clear a threshold that varies by fund type.

Since its founding, BlackRock has become a flashpoint for questions about government intervention in businesses and financial markets. In the fallout of 2008 and during the COVID-19 pandemic, for instance, BlackRock served as the Federal Reserve's primary financial institution sponsor.

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