Atlas

Company profile

BlackRock

The largest asset manager, which also sells the system it runs on

BlackRock is first an asset manager. Aladdin began as its internal risk and portfolio platform and is now sold to other institutions as a front-to-back system; eFront and Preqin extended it into private markets.

Where the money is

79% of revenue comes from base fees & securities lending

Each block is sized by its share of $20.4B revenue (FY 2024).

79%Base fees & securities lending
8%
7%
6%

Base fees & securities lending

$16.1B

Asset management · 79%

Fees on the assets it manages, iShares included.

Technology services

$1.6B

Software · 8%

Aladdin, eFront and related software sold to others.

Distribution & advisory

$1.5B

Asset management · 7%

Distribution, advisory and other fees.

Performance fees

$1.2B

Asset management · 6%

Fees for beating benchmarks, mostly alternatives.

Source

What BlackRock sells

Software and data: Aladdin at the centre, private markets bought in

Rows are what they sell, columns are who buys it. Darker cells cover more capabilities, weighted toward flagship strengths. Tap an offering for detail.

Asset management

Wealth

Banking

Data
Software

Product by product

What each of BlackRock's products actually does

Aladdin began as BlackRock's own system. eFront and Preqin extended it into private markets, and Aladdin Wealth carries it to advisers. The bar shows where each product is strongest: front, middle or back office. Darker means stronger.

Acquisitions

$51B in disclosed deals: $5.0B for software and data, $46B for business lines

Colour shows what was bought; size shows the price in 2026 dollars (US consumer prices). Small hollow dots: price not disclosed. Dashed: deal abandoned. Tap a deal to see what it added.

Competitors and peers

Who BlackRock is up against, and where

Grouped by how they compete. A firm can be a software rival without being a business rival.