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Sentiment · FY2026 Q2
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Frankly, BlackRock is the most recent win we have had; it is far from the only one.”
BlackRock awarded Citi a large securities-services / middle-office ETF servicing mandate, a read-through that BlackRock is outsourcing servicing to Citi's Services franchise.
“That includes notable partnerships with industry leaders such as BlackRock, that have enhanced our open architecture platform and are elevating the client experience.”
Citi's wealth business partners with BlackRock to enhance its open-architecture investment platform.
“we are extending the ETF agreement with BlackRock through 2035 to solidify that tremendous future growth”
MSCI extended its index-licensing ETF agreement with BlackRock (iShares) through 2035 while lowering fee floors on certain superscale ETFs, underscoring BlackRock's large and growing ecosystem of ETFs linked to MSCI indexes.
“the announcement of the BlackRock, Bitcoin volatility Income Fund that came like about a week ago where they said they were going to sell volatility or generate income”
BlackRock launched a Bitcoin volatility income fund, framed as a bullish, volatility-dampening development among BlackRock's Bitcoin (IBIT) products.
“we have joined the AI infrastructure partnership alongside BlackRock Global Infrastructure Partners, MGX, Microsoft, NVIDIA, XAI and Energy Partners GE Vernova and Nextera Energy, as it seeks to invest in secure, efficient and scalable infrastructure to support AI workloads.”
Cisco joined a multiparty AI infrastructure investment partnership led by BlackRock Global Infrastructure Partners alongside MGX, Microsoft, NVIDIA, xAI, GE Vernova and NextEra Energy, targeting secure and scalable AI infrastructure investment.
“We announced a new partnership with BlackRock, where they will manage $80 billion of our clients' assets, fully aligning to an open architecture strategy.”
Citi named BlackRock to manage $80B of its wealth clients' assets under an open-architecture partnership. Read-through: BlackRock wins an $80B managed-assets mandate from Citi's wealth franchise.
“seem to suggest that Aladdin picking up some momentum”
An analyst notes BlackRock's Aladdin platform is gaining momentum in front-office software, framing it as competitive pressure on State Street's Charles River.
“would be shifting to a combined Alpha and Aladdin program”
Invesco is migrating its hybrid investment platform onto BlackRock's Aladdin/Alpha technology, a multi-year platform win for BlackRock's technology-services business.
“compare With Intelligence to BlackRock's Preqin, who I see as the closest peer in terms of relative data coverage across asset classes”
An analyst frames BlackRock's Preqin as the closest competitor to S&P Global's newly acquired With Intelligence in private-markets data coverage.
“we launched funds in collaboration with BlackRock for our clients' international defined contribution pension plans. And that has been seeded with over $1 billion in assets from a client headquartered in the Middle East.”
WTW partnered with BlackRock to launch investment funds for international DC pension plans, seeded with over $1 billion, signaling BlackRock's role in WTW's investments-business product expansion.
“if you just look at the private side of the equation and the recent capital formation that's focused on net lease investing by Blackstone, BlackRock, Starwood, there's a whole series of new entrants into the market.”
BlackRock is cited as one of the large private-capital platforms newly forming net-lease investment vehicles, increasing competition in the U.S. net-lease market.
“Almost no one else in the traditional asset management industry has the $35 billion that BlackRock has.”
Apollo points to BlackRock's roughly $35 billion in private-markets capacity as the benchmark competitor pushing traditional managers toward private assets.
“long-standing and continuously growing partnership with NASDAQ”
BlackRock is expanding its index-licensing partnership with Nasdaq, filing for a U.S. NASDAQ 100 iShares ETF and already being the largest manager of NASDAQ 100 ETFs outside the U.S.
“GIP V closed above its $25 billion target and is already majority committed through recently announced deals like TCR, AES, and Aligned”
AES is named as one of the recently announced deals BlackRock's GIP V infrastructure fund is committing capital to, a read-through on infrastructure/power M&A involving AES.
“The combinations of GIP and HPS with BlackRock, Inc. are surpassing the highest expectations we underwrote”
BlackRock's acquired infrastructure arm Global Infrastructure Partners is deploying its GIP V fund ahead of plan, with the integration exceeding underwriting expectations.
“a full-quarter impact of the Preqin transaction which closed on March 3, 2025”
BlackRock's acquisition of private-markets data provider Preqin added about $65 million of revenue and is positioned as core to its private-credit benchmarking and Aladdin data offering.
“the closing of the HPS transaction on July 1, 2025”
BlackRock closed its acquisition of private-credit manager HPS, which contributed roughly $230 million of base fees and performance fees this quarter and is described as accelerating within BlackRock.
“Full year retail net inflows of $107 billion were led by the onboarding of the $80 billion SMA assignment from Citi Wealth during the fourth quarter.”
Citi Wealth assigned an $80 billion separately managed account mandate to BlackRock, a read-through that Citi is outsourcing SMA management to BlackRock.
“primarily due to a noncash mark-to-market loss linked to our minority investment in Circle.”
BlackRock took a noncash mark-to-market loss on its minority stake in Circle, reflecting a decline in Circle's valuation during the quarter.
“our initiative with Great Gray, the collective trust company that we told you about earlier this year”
BlackRock is partnering with collective-trust company Great Gray to bring private markets into 401(k) target-date offerings. Read-through: Great Gray is BlackRock's collective-trust vehicle for retirement private-markets access.
“AIP includes MGX of Abu Dhabi, Microsoft, KIA of Kuwait, and Temasek of Singapore, and Technology and Energy Advisors in Nvidia, xAI, Cisco, GE, Brnova, NextEra Energy.”
NextEra Energy is named as an energy advisor/partner in BlackRock's AI Infrastructure Partnership. Read-through: NextEra Energy is participating in the AIP consortium powering AI/data-center infrastructure.
“AIP includes MGX of Abu Dhabi, Microsoft, KIA of Kuwait, and Temasek of Singapore, and Technology and Energy Advisors in Nvidia, xAI, Cisco, GE, Brnova, NextEra Energy.”
Cisco is named as a technology advisor/partner in BlackRock's AI Infrastructure Partnership. Read-through: Cisco is participating in the AIP consortium for AI infrastructure.
“AIP includes MGX of Abu Dhabi, Microsoft, KIA of Kuwait, and Temasek of Singapore, and Technology and Energy Advisors in Nvidia, xAI, Cisco, GE, Brnova, NextEra Energy.”
Nvidia is named as a technology advisor/partner in BlackRock's AI Infrastructure Partnership. Read-through: Nvidia is a strategic partner in the AIP consortium building AI infrastructure.
“AIP includes MGX of Abu Dhabi, Microsoft, KIA of Kuwait, and Temasek of Singapore, and Technology and Energy Advisors in Nvidia, xAI, Cisco, GE, Brnova, NextEra Energy.”
Microsoft is named as a partner in BlackRock's AI Infrastructure Partnership (AIP). Read-through: Microsoft is participating in the AIP consortium funding AI/data-center infrastructure.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Mike Cyprys | Morgan Stanley | 7 (0%) |
| Alex Blostein | Goldman Sachs | 7 (0%) |
| Craig Siegenthaler | Bank of America | 7 (0%) |
| Brian Bedell | Deutsche Bank | 5 (0%) |
| Mike Brown | UBS | 5 (0%) |
| Dan Fannon | Jefferies | 5 (0%) |
| Ben Budish | Barclays | 4 (0%) |
| Patrick Davitt | Autonomous Research | 3 (33%) |
| Ken Worthington | JPMorgan | 3 (0%) |
| Will Katz | TD Cowen | 3 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Goldman Sachs | 1 | 7 (0%) |
| Bank of America | 1 | 7 (0%) |
| Morgan Stanley | 1 | 7 (0%) |
| UBS | 1 |
BlackRock delivered record Q1 FY2026 organic growth with $130 billion in net inflows as revenue surged 27.0% and EPS spread +3.0pp, with the +1 eps_adjustment reflecting genuine margin expansion. HPS and Preqin integrations were accelerating, private credit structural demand remained intact, and the DOL proposed rule for private assets in 401(k) plans was highlighted as a potential catalyst. Market volatility and geopolitical uncertainty persisted but international diversification drove premium flows.
Demand | Product Launch | M&A | Competitive Dynamics | Capital Allocation | Regulation Policy | Innovation & R&D | Margin | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 2 | 1 | 3 | 2 | 1 | ||
| 2025Q1 | 2 | 2 | 1 | 2 | 1 | 1 | ||
| 2025Q2 | 4 | 1 | 3 | 2 | 1 | 1 | 1 | |
| 2025Q3 | 3 | 3 | 3 | 2 | 1 | 2 | ||
| 2025Q4 | 5 | 1 | 1 | 1 | 1 | 1 | ||
| 2026Q1 | 2 | 1 | 1 | 3 | 1 | 1 | ||
| 2026Q2 | 4 | 2 | 1 | 1 | 2 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Demand | 3 | 2 | 4 | 3 | 5 | 2 | 4 |
| Product Launch | 2 | 2 | 1 | 3 | 1 | 1 | 2 |
| M&A | 1 | 1 | 3 | 3 | 1 | 1 | |
| Competitive Dynamics | 2 | 2 | 1 | 3 | 1 | ||
| Capital Allocation | 3 | 1 | 2 | 1 | |||
| Regulation Policy | 2 | 1 | 1 | 1 | 1 | ||
| Innovation & R&D | 1 | 2 | 1 | 2 | |||
| Margin | 1 | 1 | 1 | 1 | 1 |
| 5 (0%) |
| Deutsche Bank | 1 | 5 (0%) |
| Jefferies | 1 | 5 (0%) |
| Barclays | 1 | 4 (0%) |
| Autonomous Research | 1 | 3 (33%) |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
BLK BlackRock | 9 | +30.6% | |
| AMP Ameriprise Financial | 8 | +9.0% | |
| ARES Ares Management Corporation | 9 | +40.8% | |
| BEN Franklin Resources | 8 | +8.7% | |
| BNY BNY Mellon | 9 | +13.0% | |
| BX Blackstone Inc. | 8 | +39.3% | |
| IVZ Invesco | 8 | +14.1% | |
| KKR KKR | 7 | +31.0% | |
| NTRS Northern Trust | 9 | +7.8% | |
| STT State Street Corporation | 10 | +16.7% | |
| TROW T. Rowe Price | 6 | +5.3% |