BlackRock announced a target of $400 billion in gross private markets fundraising by 2030, a number that signals a fundamental reorientation of the world’s largest asset manager toward alternatives, infrastructure, and blockchain-based tokenization.
The announcement was made on June 12, 2025.
The acquisition machine behind the pivot
BlackRock completed three major acquisitions to build the infrastructure for this push: Global Infrastructure Partners (GIP) in 2024, HPS Investment Partners in 2025 for private credit and equity capabilities, and data provider Preqin, also in 2025.
Each deal serves a specific purpose. GIP gives BlackRock direct exposure to physical infrastructure assets. HPS adds deep private credit origination and equity deal flow. Preqin provides the data backbone that makes scaling these strategies possible.
