Assets hit record high after strong markets in Q4
Total net inflows hit 281 billion
HPS deal set to close in first half of the year, Preqin in Q1
Senior executive Wiedman to depart the firm

NEW YORK, Jan 15 Reuters BlackRock posted a 21 fourth quarter jump in profit after buoyant equity markets increased income from fees and drove its assets to a record high of 11.6 trillion, the world39;s largest money manager said on Wednesday.

Assets managed by the New Yorkbased company increased to 11.55 trillion from 10.01 trillion a year earlier and 11.48 trillion in the third quarter.

The growth was partly driven by a U.S. stock market rally after Donald Trump39;s presidential election victory in November prompted investors to bet on lower corporate taxes and deregulation.

BlackRock39;s quarterly results complete a banner year for the asset manager, which has sought to strengthen its position in rapidly growing private markets. It spent about 25 billion last year on infrastructure investment fund Global Infrastructure Partners and private credit business HPS Investment Partners.

For many companies, periods of MA contribute to a pause in client engagement. At BlackRock, clients are instead embracing and rewarding our strategy, CEO Larry Fink said in a statement on Wednesday.

Net income rose to 1.67 billion, or 10.63 per share, in the three months to Dec. 31 from 1.38 billion, or 9.15 per share, a year earlier.

BlackRock registered 201 billion in longterm net inflows in…