BlackRock Investment Management, LLC

BlackRock Investment Management, LLC (BIM) provides investment management to a broad client base including institutional clients, US-registered funds (including ETFs), private funds, separately managed accounts and high‑net‑worth and other individual investors, managing approximately $676.7 billion in client assets as of 12/31/2025. Services include discretionary and non‑discretionary portfolio management across cash management, equity, fixed income, multi‑asset and private markets strategies, as well as programmatic offerings such as SMA program participation and model portfolio licensing.

BIM combines active, model‑based and index approaches and implements mandates through a mix of in‑house portfolio teams, sub‑advisory arrangements and model/target portfolios; it also delivers research and digital tools (including AI‑enabled analytics) and uses the firm’s Aladdin platform for portfolio construction, risk analytics and trade execution support. BIM participates in a range of client engagement models — from institutional IMAs and glidepath services to dual‑contract SMA programs and recently developed Private Market SMA Strategies that allocate to affiliated and third‑party private market funds.

Compared with many peers, BIM is notable for its breadth of affiliated capabilities that extend beyond typical portfolio management: for example, BlackRock’s trust-bank affiliate (BTC) is registered with the Municipal Securities Rulemaking Board as a municipal advisor, and BIM now operates within an expanded private financing platform following the HPS and ElmTree acquisitions that created Private Financing Solutions. The firm also combines fund advisory, securities‑lending agent roles and technology licensing (Aladdin and related digital services) with participation in third‑party SMA and model‑portfolio programs, which can affect how investment opportunities and operational services are sourced and allocated across clients.