BlackRock Total Assets Hit Record $14 Trillion as ETFs Surge

BlackRock Inc. pulled in $342 billion of total client cash in the fourth quarter, pushing the firm to a record $14 trillion of assets as it integrates a string of recent acquisitions to become a force in private markets.

Investors added $268 billion on a net basis to its long-term investment funds, including $181 billion to its exchange-traded fund business that now has $5.5 trillion overall, BlackRock said Thursday in a statement announcing full-year and quarterly earnings. The tally in the last three months of the year pushed the total annual haul, including money-market and cash-management funds, to $698 billion, setting a new record.