BlackRock was founded in 1988 by eight colleagues with a single goal – to provide a more thoughtful, analytical approach to investing that could deliver better returns for investors.
Thirty-five years later, BlackRock is still a fiduciary. The money we manage is not our own. We invest it on clients’ behalf and for their benefit. Today, BlackRock’s clients include large institutions: charities, family offices, private pension plans, government pension plans and more. Half the money BlackRock manages is for retirement.
In the beginning, BlackRock attracted clients by providing a deeper level of insight into how their money was being invested. The firm developed a software system called “Aladdin,” which could analyse a portfolio and assess thousands of risk factors to offer a forward-thinking view.
By the early 2000s, BlackRock had become a global company. We'd grown from eight people in a tiny New York office to thousands of investment professionals around the globe, and that growth allowed us to improve the investing process further. We weren’t just offering more advanced risk management technology anymore. Through products like iShares, we were able to make investing cheaper, helping more clients keep more of what they earned, especially for retirement.
As BlackRock has grown, what has really set us apart is choice. To us, being a good fiduciary means being equipped to help clients no matter what they want to invest in. After all, there’s no one way to invest your money. People’s investing preferences are constantly changing because the world is changing. And BlackRock will continue to be there, supporting our clients, every step of the way.
Our journey to today
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1988
Building the foundation
1988: Eight people, who shared a determination to put clients’ needs and interests first, start a company, which we ultimately name BlackRock in 1992.
1999: We begin to sell our proprietary technology, Aladdin®, to bring transparency, scale and innovation to risk management.
1999: We make our IPO on the New York Stock Exchange on October 1 at $14 a share. By the end of the year, we have $165B in assets under management.
2000: We launch BlackRock Solutions, with Aladdin® as the basis for the business, and embark on our journey as a technology provider.
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2006
Strategic acquisitions and expansion
2006: We acquire Merrill Lynch Investment Management (MLIM), expanding our retail and international presence.
2008: We play a key advisory role to institutions around the globe seeking to navigate the financial crisis.
2009: We acquire Barclay’s Global Investors (BGI), becoming the world’s largest asset manager with employees in 24 countries.
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2012
Innovation and technological advancement
2012: We launch iShares Core to provide investors with a low-cost, tax-efficient foundation for their portfolios.
2016: We leverage our diverse platform and portfolio construction technology to support a changing wealth management landscape.
2017: We further increase our commitment to Investment Stewardship, emphasizing the importance of long-term profitability.
2018: We open our first AI Lab in Palo Alto to accelerate the use of artificial intelligence, machine learning, data science and natural language processing in the investment process.
2019: We launch the BlackRock Retirement Solutions Group to explore innovative solutions to the most pressing retirement challenges.
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2019
Commitment to clients and future growth
2019: We acquire eFront and further strengthen our Aladdin investment operating platform, which is used by more than 225 institutions worldwide.
2021: We acquire Aperio, expanding the breadth of our personalization capabilities via tax-managed strategies.
2023: We formed Jio BlackRock, a 50:50 joint venture with Jio Financial Services Limited, to deliver tech-enabled access to affordable, innovative investment solutions for millions of investors in India.
