BlackRock's quarterly results complete a banner year for the asset manager, which has sought to strengthen its position in rapidly growing private markets, spending about $25 billion last year on infrastructure investment fund Global Infrastructure Partners and private credit business HPS Investment Partners.

Key Takeaways BlackRock's assets under management surged 15% year-over-year to $11.55 trillion.The asset manager beat estimates for earnings and revenue in the period.CEO Larry Fink noted that this was the second straight quarter of record inflows for BlackRock.

BlackRock said in its fourth-quarter earnings report Wednesday that assets under management jumped to a record $11.55 trillion, up from $10 trillion a year ago. Analysts surveyed by FactSet had expected BlackRock to report a record $11.

Asset manager BlackRock's senior executive Mark Wiedman, who was touted to be a potential successor to CEO Larry Fink, is departing the firm, said two sources familiar with the matter.

BlackRock Inc. is elevating several senior executives to expand its business in the Americas and with key institutional clients, following the announced departure of Mark Wiedman, once seen as a potential successor to Chief Executive Officer Larry Fink.

OpenAI has appointed BlackRock Inc. executive Adebayo Ogunlesi to its board of directors, drawing on his experience investing in infrastructure as the startup pushes for more data

As OpenAI pushes toward a for-profit structure, the company is adding Adebayo Ogunlesi, founding partner of Global Infrastructure Partners, to its board.

OpenAI includes Blackrock Inc. executive Adebayo Ogunlesi on its board of directors. The AI startup is hoping to use his expertise to advance the development of its AI infrastructure.