Hedge Funds Drive BlackRock Q4 Profit

Jan 25 2011 | 1:40pm ET

Strong performances from its hedge funds helped BlackRock beat analysts' expectations in the fourth quarter.

The world's largest asset manager with $3.6 trillion in assets earned $670 million in the last three months of the year, up 77% from the year-earlier period's $379 million and more than 50 cents per share better than analyst estimates. Revenue rose 61% to $2.49 billion.

The strong quarter was driven in part by the New York-based firm's hedge funds. Good results for some more than doubled BlackRock's high-margin performance fee revenue, which rose to $326 million from $125 million.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of