Investment adviser · CRD 107105

BLACKROCK FINANCIAL MANAGEMENT, INC

NEW YORK, NY, United States · Form ADV filed Mar 31, 2026

Regulatory AUM: $1.6T
Client accounts: 2,283
Employees: 7,987
Advisory professionals: 889

How this adviser has changed

Annual filings

Regulatory assets under management

Up to five fiscal years, using the latest annual update available at the selected filing date. Asset changes can reflect acquisitions, client flows, and valuations; they are not investment returns.

Annual adviser history and sources
Fiscal year	Regulatory AUM	Employees	Filed
2021	$1,318,243,655,697	6,043	Mar 30, 2022
2022	$1,163,046,943,604	6,491	Mar 30, 2023
2023	$1,288,497,806,439	6,407	Mar 28, 2024
2024	$1,327,870,000,000	7,410	Mar 31, 2025
2025	$1,595,099,828,916	7,987	Mar 31, 2026

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client type	Clients	Regulatory assets	Share of AUM
Pooled investment vehicles	399	$548,161,289,739	34.4%
Insurance companies	294	$457,645,185,538	28.7%
Government entities	54	$172,829,187,022	10.8%
Retirement plans	154	$163,893,476,960	10.3%
Corporations & businesses	195	$101,077,223,020	6.3%
Sovereign wealth & foreign institutions	49	$90,420,609,613	5.7%
Charities	58	$28,582,354,196	1.8%
Investment companies	21	$17,373,069,588	1.1%
Other investment advisers	9	$8,763,349,958	0.5%
High-net-worth individuals	64	$5,434,214,822	0.3%
Banks & thrifts	6	$839,141,433	0.1%
Other clients	Fewer than 5	$79,123,101	0.0%
Individuals	6	$1,603,926	0.0%

Filing source

Form ADV 2064908 · Mar 31, 2026 · Item 5.D

Reported by BLACKROCK FINANCIAL MANAGEMENT, INC (CRD 107105).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

Private funds & service providers

406 detailed fund records

Largest reported gross asset value first; unreported values last. Gross asset value is fund-level disclosure, distinct from adviser AUM and Form D fundraising. Master and feeder funds may overlap.

HEATH TACTICAL STRATEGIES FUND LTD.Hedge Fund$1.66BGross asset value

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Fund administrator J.P. MORGAN SECURITIES INC. NEW YORK, New York, United States Investor statements: Yes (provided to all investors) Related to adviser: No Other funds reporting this name →

Auditor DELOITTE & TOUCHE GRAND CAYMAN, Cayman Islands Other funds reporting this name →

Custodian J.P. MORGAN SECURITIES INC. NEW YORK, New York, United States Related to adviser: No Other funds reporting this name →

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

DELOITTE & TOUCHE
PCAOB 1096

J.P. MORGAN SECURITIES INC.
SEC 8-36950

Fund details & source

Fund ID: 805-6439322875
Reported beneficial owners: 1
Minimum commitment: $125M

Form ADV 2064908 · Mar 31, 2026 · Schedule D 7.B.(1)

Reported by BLACKROCK FINANCIAL MANAGEMENT, INC (CRD 107105).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

GLOBAL INFRASTRUCTURE DEBT FUND A DESIGNATED ACTIVITY COMPANYOther Private Fund$1.59BGross asset value

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Fund administrator BANK OF NEW YORK MELLON DUBLIN, Ireland Investor statements: Yes (provided to all investors) Related to adviser: No Other funds reporting this name →

Auditor DELOITTE IRELAND LLP DUBLIN, Ireland Other funds reporting this name →

Custodian BANK OF NEW YORK MELLON, N.A. LONDON, United Kingdom Related to adviser: No Other funds reporting this name →

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

DELOITTE IRELAND LLP
PCAOB 1193

Fund details & source

Fund ID: 805-3109245215
Reported beneficial owners: 1
Minimum commitment: $5M

Form ADV 2064908 · Mar 31, 2026 · Schedule D 7.B.(1)

Reported by BLACKROCK FINANCIAL MANAGEMENT, INC (CRD 107105).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

GLOBAL INFRASTRUCTURE DEBT II ISSUER LPHedge Fund$1.43BGross asset value

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No provider names available in this fund's imported disclosure.

Provider details

Annual audit: No
Prime brokers: No
Custodians: No
Administrator other than the adviser: No
External marketing: No

Fund details & source

Fund ID: 805-2685548205
Reported beneficial owners: 17
Minimum commitment: $1M

Form ADV 2064908 · Mar 31, 2026 · Schedule D 7.B.(1)

Reported by BLACKROCK FINANCIAL MANAGEMENT, INC (CRD 107105).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

DECARBONIZATION MASTER FUND (LUXEMBURG SCSP)Private Equity Fund$1.36BGross asset value

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Fund administrator STATE STREET DUBLIN, Ireland Investor statements: Yes (provided to all investors) Related to adviser: No Other funds reporting this name →

Auditor DELOITTE LUXEMBOURG, Luxembourg Other funds reporting this name →

Custodian STATE STREET CUSTODIAL SERVICES (IRELAND) LIMITED DUBLIN, Ireland Related to adviser: No Other funds reporting this name →

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

DELOITTE
PCAOB 1287

Fund details & source

Fund ID: 805-3222365609
Reported beneficial owners: 2
Minimum commitment: $10K

Form ADV 2064908 · Mar 31, 2026 · Schedule D 7.B.(1)

Reported by BLACKROCK FINANCIAL MANAGEMENT, INC (CRD 107105).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

EUROPEAN HEDGE FUND LLCHedge Fund · Feeder$1.33BGross asset value

Form D fundraising filings

View filings for the issuer linked by this fund’s reported Form D file numbers.

Strategic Equity Hedge Fund LLC

Fund administrator THE BANK OF NEW YORK MELLON SOMMERSET, New Jersey, United States Investor statements: Yes (provided to all investors) Related to adviser: No Other funds reporting this name →

Auditor DELOITTE & TOUCHE GRAND CAYMAN, Cayman Islands Other funds reporting this name →

Marketer MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED NEW YORK, New York, United States Related to adviser: No Other funds reporting this name →

Marketer UBS FINANCIAL SERVICES INC. WEEHAWKEN, New Jersey, United States Related to adviser: No Other funds reporting this name →

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: No
Administrator other than the adviser: Yes
External marketing: Yes

DELOITTE & TOUCHE
PCAOB 1096

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
CRD 7691 · SEC 801-14235

UBS FINANCIAL SERVICES INC.
CRD 8174 · SEC 801-7163

Fund details & source

Fund ID: 805-7784659343
Reported beneficial owners: 1,236
Minimum commitment: $100K
Form D file number: 021-270014

Form ADV 2064908 · Mar 31, 2026 · Schedule D 7.B.(1)

Reported by BLACKROCK FINANCIAL MANAGEMENT, INC (CRD 107105).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

BLACKROCK US COMMERCIAL REAL ESTATE WHOLE LOAN FUND L.P.Real Estate Fund$1.3BGross asset value

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Fund administrator MUFG ALTERNATIVE FUND SERVICES (CAYMAN) LTD GRAND CAYMAN, Cayman Islands Investor statements: Yes (provided to all investors) Related to adviser: No Other funds reporting this name →

Auditor PRICEWATERHOUSECOOPERS AARATA LLC TOKYO, Japan Other funds reporting this name →

Custodian BANK OF NEW YORK MELLON NEW YORK, New York, United States Related to adviser: No Other funds reporting this name →

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

PRICEWATERHOUSECOOPERS AARATA LLC
PCAOB 2743

Fund details & source

Fund ID: 805-1703684385
Reported beneficial owners: 1
Minimum commitment: $0

Form ADV 2064908 · Mar 31, 2026 · Schedule D 7.B.(1)

Reported by BLACKROCK FINANCIAL MANAGEMENT, INC (CRD 107105).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

LOAN FUNDING II LLCOther Private Fund$1.2BGross asset value

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Custodian BANK OF NEW YORK MELLON, N.A. BOSTON, Massachusetts, United States Related to adviser: No Other funds reporting this name →

Provider details

Annual audit: No
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

Fund details & source

Fund ID: 805-1633853157
Reported beneficial owners: 0
Minimum commitment: $0

Form ADV 2064908 · Mar 31, 2026 · Schedule D 7.B.(1)

Reported by BLACKROCK FINANCIAL MANAGEMENT, INC (CRD 107105).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

Services & filing details

View a filing

Showing values from the selected filing. Latest observed filing does not establish current registration status.

What changed?

Since Mar 2, 2026 · previous imported filing

Regulatory AUM$1,327,868,750,254 → $1,595,099,828,916
Client accounts2,269 → 2,283
Employees7,410 → 7,987

Filing source

Form ADV 2064908 · Mar 31, 2026 · Items 1 & 5

Reported by BLACKROCK FINANCIAL MANAGEMENT, INC (CRD 107105).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

Management of assets

Discretionary: $1.59T
Non-discretionary: $2.27B

Reported services

Individual portfolio management · Investment company portfolio management · Pooled investment vehicle management · Business portfolio management · Pension consulting · Selection of other advisers

Compensation

Percentage of assets · Fixed · Performance-based

Principal office

50 HUDSON YARDS
NEW YORK, NY, 10001, United States

CRD 107105

Filing source

Form ADV 2064908 · Mar 31, 2026 · Items 1 & 5

Reported by BLACKROCK FINANCIAL MANAGEMENT, INC (CRD 107105).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.