BlackRock is the world's largest asset manager, overseeing trillions of dollars for pension funds, governments, institutions and individuals. Its iShares family dominates exchange-traded funds, the vehicle through which much of the world now invests. Fees on assets under management form the revenue base, which grows with markets and fund inflows. Aladdin, the firm's risk and portfolio technology platform, is licensed to other institutions and adds a software-like income stream. The firm was founded in 1988 and built its scale through the rise of index investing.