Key Takeaways BlackRock acquired Elmtree Funds as part of its $400B private markets target for 2030.BLK has spent over$28B in a year on deals spanning credit, real estate, data, and infrastructure.BLK's Private markets AUM hit $215.2B in Q2 2025, up 56.1% year over year, with revenues jumping 62.8%.BlackRock Inc. (BLK) has been deepening its presence in private markets through opportunistic acquisitions, strategic collaborations and product diversification. Earlier this month, it acquired Elmtree Funds, wh ...