BlackRock Hauls in $205 Billion as Private Assets Accelerate (3)

BlackRock Inc. pulled in $205 billion of client money in the third quarter as the world’s largest fund manager expanded its footprint in private credit and alternative assets.

Investors added $153 billion on a net basis to stock, bond and other exchange-traded funds — which topped $5 trillion for the first time — reflecting the massive growth of the products this year, New York-based BlackRock said in a statement Tuesday.

Net flows to long-term investment funds were $171 billion, beating the $161.6 billion average estimate of analysts surveyed by Bloomberg, and total assets under management hit a record of $13.5 ...