BlackRock Inc., the world’s largest asset manager, boosted its annual revenue target for 2030 and set its first-ever firmwide target for private-markets fundraising at $400 billion by then.

BlackRock is betting its growing foothold in private markets will boost revenues and lift its market value in the coming years, positioning it as a one-stop investment powerhouse with reach across both public and private assets.

BlackRock BLK is targeting $400 billion in private markets fundraising by 2030. In its investor presentation, the firm predicted that the private credit market could expand to $4.5 trillion in 2030 from $1.