BlackRock's assets under management hit a record high for the third straight quarter as a U.S. stock market rally boosted inflows, while the world's largest asset manager continued a push to expand its footprint in private markets.

BlackRock Inc. pulled in a record $221 billion of total client cash last quarter, pushing the world’s largest money manager to an all-time high of $11.5 trillion of assets as it seeks to become a one-stop shop for stocks,

Blackrock’s assets under management were boosted by a surge in inflows driven by billions pouring in from exchange-traded-funds