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BlackRock expects its assets under management in Brazil to grow by around 30% in 2027, regardless of the outcome of the country’s October general election, Brazil chief executive Bruno Barino told Reuters.
The firm’s Brazilian assets are projected to rise 30% to 35% in 2026, following 12% growth in 2025 and an outflow in 2024, Barino said. BlackRock did not disclose the total amount it manages in Brazil.
About 90% of BlackRock’s Brazilian assets are tied to international investments, Reuters reported. Barino said rising interest among Brazilian clients in overseas investments would support further expansion. BlackRock manages approximately $15.3 trillion globally, according to the report.
Reforms seen as key to attracting investment
Barino said Brazil’s ability to compete for long-term investment depends less on who wins the election than on the depth of fiscal reforms and policies to improve competitiveness. The Reuters report noted that opinion polls showed President Luiz Inácio Lula da Silva and Senator Flávio Bolsonaro statistically tied in simulated election scenarios.
BlackRock’s growth expectation is a company forecast, not a guarantee. The firm’s Brazil operation remains modest relative to its global footprint, Barino said, according to Reuters.
