BlackRock posted a 21% fourth quarter jump in profit after buoyant equity markets increased income from fees and drove its assets to a record high of $11.6 trillion, the world's largest money manager said on Wednesday.

The Larry Fink-led firm's historic haul, driven by strong ETF flows, comes amid deals to muscle into the alternatives and private assets space.

With impressive growth in assets under management (AUM), which reached a record $11.6 trillion, BlackRock ended the quarter and fiscal 2024 on a high note.

BlackRock has reported a strong fourth quarter (Q4 2024), with profit surging 21% year-on-year and assets hitting $11.6tn.

BlackRock's assets reached a record in the fourth quarter of over $11 trillion, driven by a more than 20% profit increase. The world's largest money manager saw assets rise from nearly $10 trillion a year ago.