Unlocking $400B by 2030: BlackRock's Ambitious Leap into Private Markets

In the competitive world of investment management, size does indeed matter. BlackRock, the $11.6 trillion asset manager, is setting sights even higher: the traditionally shut private markets now appear as the next frontier. An audacious plan to raise $400 billion in private capital commitments by 2030 reveals BlackRock’s novel strategic shift to pioneer in the area that has long been dominated by traditional buyout behemoths like Blackstone, Apollo Global Management, and The Carlyle Group.

To bolster its presence in the private markets, BlackRock has made substantial acquisitions. In 2025, it bought alternative asset managers in two massive deals. First, its acquisition of Global Infrastructure Partners which expedited their overall growth in private market AUM by 40%. Then, it swallowed up credit shop HPS Investment Partners, thus ushering in around $220 billion of additional assets under its wings.

BlackRock is thus ready to disrupt the status quo and take a significant slice from the market share of its largest competitors. Making use of innovative tools like evergreen funds and perpetual capital vehicles, BlackRock’s end game is quite clear – rule the roost in the private markets and become the ‘go-to’ choice for high net worth individuals and serious investors.