BlackRock said its Management Development and Compensation Committee approved an allocation of carried interest to Chairman and CEO Laurence D. Fink on February 11, 2025. Under the allocation, he is entitled to a share of the carry distributions generated by a composite of flagship private markets funds that raised capital in 2024.

1. 01

   BlackRock said its Management Development and Compensation Committee approved an allocation of carried interest to Chairman and CEO Laurence D. Fink on February 11, 2025. Under the allocation, he is entitled to a share of the carry distributions generated by a composite of flagship private markets funds that raised capital in 2024.

2. 02

   The company said any future carry distributions to Fink are 100% at-risk, depending on the ultimate performance of the participating funds, and that fund investment returns must exceed pre-specified hurdles over a defined term. It also said the carry incentive does not provide realizable value at grant.

3. 03

   The company said the carry will be allocated through an aggregator partnership vehicle and will not include any value that a participating fund has accrued before the incentive is allocated. It said the participating funds will be flagship-type funds representing the infrastructure, private debt, private equity and real estate asset classes. It also explained that flagship-type funds generally raise more than $1 billion in capital.

4. 04

   The company said Fink's carry incentive vests ratably over a 3-year schedule, and any unvested portion is forfeited upon termination other than for qualified retirement, death or disability. It also said some distributions may be held back to cover potential clawback obligations tied to final fund performance.

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