BlackRock Investor Conference Presentation Deck
Commitment to invest first and then return cash to
shareholders
Capital management strategy
Organic business investments
Headcount
Strategic acquisitions &
minority investments
Dividends
G&A
Share repurchases
Note: For footnoted information, refer to slides 14-15
BlackRock
Seed &
Co-Invest
Key drivers¹
• Headcount to support strategic growth areas
Approximately $3.5B in seed and co-
investments²
• Hudson Yards headquarters
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IRH1221U/M-1946957-1/20
Over $4B invested through acquisitions and
minority investments since 2012
• Focused primarily in technology, alternatives,
global distribution and whole rtfolio
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• 12% dividend growth CAGR since 2012
• Continue to target a dividend payout ratio of
40-50%
Repurchased over $11B in shares since
2012, representing a 20% IRR
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