BlackRock Inc. hauled in $51 billion of client cash to its long-term investment funds in the second quarter, pushing the world’s largest money manager to a record $10.6 trillion of assets.

BlackRock Inc. will acquire private capital database provider Preqin for £2.55 billion ($3.2 billion) in cash, as the world’s largest money manager accelerates its push to become a major player in alternative assets.

BlackRock Inc. is set to host a gathering of top corporate executives and government officials in Riyadh, marking the US firm’s first event on this scale in the Saudi capital and bolstering the kingdom’s efforts to lure foreign investment.

BlackRock Inc., which capitalized on a decade-long boom in index investing, said investors should rely more heavily on actively managed strategies.

BlackRock Inc. and other money managers spent years rolling out sustainable funds, seeking to capitalize on surging interest in ESG investing. Now they’re abandoning an increasing number of those products in the US amid political backlash and investor scrutiny.

The US government has been looking at ways to offload nearly $13 billion of mortgage bonds it amassed from failed lenders Silicon Valley Bank and Signature Bank, according to people with knowledge of the transactions.

BlackRock Inc. is poised to become a bigger buyer of assets that banks unload to improve their capital and liquidity, after concluding that the industry faces years of upheaval brought on by high-interest rates, stringent new regulations and possible consolidation.

Janus Henderson Group Plc’s new boss has a plan to revive the struggling money manager, whose clients have yanked about $130 billion since 2017.

Cash flows into US sustainable funds plummeted last year as the broader market took a beating and anti-ESG crusaders targeted money managers including BlackRock Inc. for “woke capitalism.”

BlackRock Inc. said active investors have an opportunity to beat the market by digging deeper into information about the sustainability of companies.