Non-Current Liabilities

Deferred Carried Interest Liability

Blackrock Deferred Carried Interest Liability increased by 2.2% to $3.52B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 2734.7%, from $124.00M to $3.52B. Over 3 years (FY 2022 to FY 2025), Deferred Carried Interest Liability shows an upward trend with a 35.3% CAGR.

Analysis

StatementBalance Sheet Statement
SectionNon-Current Liabilities
CategoryProfitability
SignalContext dependent
VolatilityModerate
First reportedQ4 2022
Last reportedQ4 2025

How to read this metric

An increase suggests strong performance in alternative assets, while a decrease may indicate lower performance or the realization of previously deferred revenue.

Detailed definition

This represents the portion of performance-based fees earned from alternative investment funds that the firm has accrued...

Peer comparison

Common in alternative asset managers and private equity firms; peers report this as a liability until performance hurdles are cleared.

Metric ID: am_deferred_carried_interest_liability

Historical Data

12 periods
 Q4 '22Q2 '23Q3 '23Q4 '23Q1 '24Q2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Value$1.42B$1.65B$1.89B$1.78B$1.81B$120.00M$114.00M$124.00M$1.93B$2.10B$3.44B$3.52B
QoQ Change+16.3%+14.4%-5.6%+1.7%-93.4%-5.0%+8.8%>999%+8.7%+63.8%+2.2%
YoY Change+25.6%-92.7%-94.0%-93.0%+6.5%>999%>999%>999%
Range$114.00M$3.52B
CAGR+39.0%
Avg YoY Growth+881.8%
Median YoY Growth+16.0%
Current Streak5 quarters growth

Frequently Asked Questions

What is Blackrock's deferred carried interest liability?
Blackrock (BLK) reported deferred carried interest liability of $3.52B in Q4 2025.
How has Blackrock's deferred carried interest liability changed year-over-year?
Blackrock's deferred carried interest liability increased by 2734.7% year-over-year, from $124.00M to $3.52B.
What is the long-term trend for Blackrock's deferred carried interest liability?
Over 3 years (2022 to 2025), Blackrock's deferred carried interest liability has grown at a 35.3% compound annual growth rate (CAGR), from $1.42B to $3.52B.
What does deferred carried interest liability mean?
Performance fees earned but not yet legally recognized as revenue due to performance or vesting requirements.

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