BlackRock completed the acquisition of GIP on October 1, 2024 for total consideration at close of approximately $3 billion in cash and 6.9 million shares, valued at $5.9 billion. As a result of the closing of the GIP Transaction, New BlackRock became the publicly listed company and retained the ticker symbol BLK.

1. 01

   BlackRock completed the acquisition of GIP on October 1, 2024 for total consideration at close of approximately $3 billion in cash and 6.9 million shares, valued at $5.9 billion. As a result of the closing of the GIP Transaction, New BlackRock became the publicly listed company and retained the ticker symbol BLK.

2. 02

   BlackRock entered into a definitive agreement to acquire Preqin for £2.55 billion (or approximately $3.2 billion based on the GBP/USD foreign exchange rate at December 31, 2024) in cash, with the Preqin Transaction anticipated to close in Q1 2025. The HPS Transaction will be paid entirely in BlackRock equity and is anticipated to close in mid-2025.

3. 03

   As of December 31, 2024, the fair value of remaining contingent consideration totaled $4.3 billion, including $4.2 billion related to the GIP Transaction, which will be settled all in stock, ranging from 4.0 million to 5.2 million shares, subject to achieving certain performance targets. In 2024, the Company recorded a noncash impairment charge of $50 million.

4. 04

   BlackRock recorded net inflows of $641 billion in 2024, a record for the year, and as of December 31, 2024 had $11.6 trillion of AUM. Private markets AUM totaled $212 billion and committed capital available to deploy was approximately $45 billion.

Key figures

Fiscal year ended December 31, 2024

Revenue

$20.4B

Operating income

$7.6B

Net income

$6.4B

EPS

$42.01

Operating cash flow

$5.0B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.