Total net inflows hit a quarterly record of 221 billion
ETF inflows reach 97 billion
Q3 net income 1.63 billion vs 1.6 billion a year ago

Reuters BlackRock39;s assets under management hit a record high for the third straight quarter as a U.S. stock market rally boosted inflows, while the world39;s largest asset manager continued a push to expand its footprint in private markets.

Assets managed by BlackRock shot to 11.48 trillion in the period, compared with 9.10 trillion a year earlier and 10.65 trillion in the second quarter, the company said on Friday.

That growth came as stocks reversed an August selloff and broadened their rally in the third quarter, boosted by renewed hopes of a soft landing for the U.S. economy.

BlackRock is expanding its offerings to become an allinone platform for investors by integrating public and private markets. Our strategy is ambitious, and our strategy is working, Larry Fink, chairman and CEO, said in a statement.

The company39;s shares were recently up 3.6 on Friday. They have advanced about 18 in 2024 as of last close, trailing the 21 jump in the SP 500.

Last week, the New Yorkbased firm completed its 12.5 billion acquisition of Global Infrastructure Partners, adding over 100 billion in assets to its kitty. Later this year, it is expected to close its 3.2 billion acquisition of private markets data provider Preqin.

The two deals are expected to bolster BlackRock39;s presence in infrastructure investments and in private markets,…