The asset manager’s stake in Elon Musk’s aerospace firm underscores strong investor appetite for private market opportunities.
BlackRock has committed $5 billion to purchase SpaceX shares, reflecting high demand for the private aerospace company. The move follows requests totaling over $70 billion from individual investors, sovereign wealth funds, and family offices seeking exposure to SpaceX’s growth.
The investment highlights BlackRock’s expanding focus on private assets alongside its public market offerings. Earlier this month, Evercore ISI lowered BlackRock’s price target to $1,140 from $1,220 but maintained an Outperform rating, citing long-term confidence in the firm’s earnings power.
BlackRock, a leader in global asset management, also sponsors the iShares Bitcoin Trust ETF (IBIT), further diversifying its investment products across digital and traditional assets.