BlackRock expects assets under management in Brazil to grow around 30% in 2027 regardless of the result of the country’s general election, its chief executive for Brazil, Bruno Barino, said in an interview with Reuters. The firm expects growth of 30% to 35% this year, following a 12% increase in 2025 and an outflow in 2024. International investments account for about 90% of BlackRock’s managed assets in Brazil, reflecting rising demand among Brazilian clients. BlackRock manages about $15.3 trillion globally, but has not disclosed its Brazilian assets and remains a relatively modest player in the country compared with its worldwide presence. Barino said Brazil’s ability to attract long-term investment depends more on the depth of fiscal reforms and competitiveness policies than on the election result. Opinion polls have shown President Luiz Inacio Lula da Silva and Senator Flavio Bolsonaro statistically tied in simulated election scenarios.