BlackRock’s Kapito Sees Retention Pot Double to $20 Million (1)

The value of a retention award tied to private-market funds for BlackRock Inc.’s Robert Kapito doubled in size last year, underlining the money manager’s focus on expanding into the space.

Kapito, president of the world’s largest asset manager, is eligible to receive an undisclosed percentage of profits from various illiquid alternative funds through the firm’s Leadership Retention Carry Plan Award, according to BlackRock’s 2024 proxy filing. Its potential value was estimated at around $20.3 million at the end of 2023, up from $9.7 million the year before.

The nature of the retention pot is relatively unusual for a traditional ...