Asset-management giant BlackRock attracted $205 billion in net new client assets during the latest quarter, propelled by record subscriptions to private-credit and infrastructure funds. The firm’s total assets under management climbed to $10.8 trillion, underscoring growing appetite among institutional investors for alternatives that hedge inflation risk. CEO Larry Fink highlighted strong participation from Asia-Pacific sovereign funds and Middle Eastern institutions. Analysts say the shift toward illiquid strategies signals a maturing cycle in global capital allocation despite elevated interest-rate volatility worldwide.