Consolidated Sponsored Investment Products (Tables)

9 Months Ended

Sep. 30, 2026

Statement of Financial Position [Abstract]

Consolidated VIEs And VREs Recorded in Condensed Consolidated Statements of Financial Condition

The following table presents the balances related to these CIPs accounted for as VIEs and VREs that were recorded on the condensed consolidated statements of financial condition, including BlackRock’s net interest in these products:


	September 30, 2026									December 31, 2025
(in millions)	VIEs			VREs			Total			VIEs			VREs			Total
Cash and cash equivalents(1)	$	306		$	481		$	787		$	428		$	33		$	461
Investments:
Trading debt securities		2,310			1,020			3,330			2,350			432			2,782
Equity securities at FVTNI		1,968			232			2,200			1,537			144			1,681
Other investments		1,184			81			1,265			946			68			1,014
Carried interest		3,637			—			3,637			3,654			—			3,654
Total investments		9,099			1,333			10,432			8,487			644			9,131
Other assets		63			20			83			76			111			187
Other liabilities(2)		(3,769	)		(929	)		(4,698	)		(4,052	)		(60	)		(4,112	)
Noncontrolling interest - CIPs		(3,756	)		(351	)		(4,107	)		(2,521	)		(236	)		(2,757	)
BlackRock's net interest in CIPs	$	1,943		$	554		$	2,497		$	2,418		$	492		$	2,910

(1)

The Company generally cannot readily access cash and cash equivalents held by CIPs to use in its operating activities.

(2)

At both September 30, 2026 and December 31, 2025, other liabilities of VIEs primarily include deferred carried interest liabilities and other liabilities held by a CIP.

Schedule of Nonoperating Gains (Loss) Related to Consolidated Variable Interest Entity

Net gain (loss) related to consolidated VIEs is presented in the following table:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)	2026		2025		2026		2025
Nonoperating net gain (loss) on consolidated VIEs	$	218	$	202	$	311	$	358

Net income (loss) attributable to NCI on consolidated VIEs	$	169	$	126	$	201	$	205