BlackRock Targets $400 Billion Private-Market Haul by 2030

BlackRock Inc., the world’s largest asset manager, boosted its annual revenue target for 2030 and set its first-ever firmwide target for private-markets fundraising at $400 billion by then.

The company’s “aspiration” for annual revenue is more than $35 billion in five years, compared with $20 billion in 2024, according to a presentation posted on its website Thursday ahead of its investor day. BlackRock, which oversees $11.6 trillion, seeks to double its market capitalization to $280 billion in five years by managing assets across stocks, bonds, cash management and increasingly alternative and higher-fee markets.