BlackRock Inc.'s (BLK) second-quarter income rose 43% from a year earlier, as the money manager benefited from increased fees and improved investment performance. The New York-based company earned $619 million, or $3.21 a share, for the three months ended June 30, up from $432 million, or $2.21 a share, a year ago. Second-quarter revenue increased 16% to $2.35 billion from $2.03 billion. Chairman and CEO Laurence Fink said the strong second-quarter results "all attest to the strength of BlackRock’s business model and our unique franchise." "Growth was driven largely by investment performance and asset mix, and is evidence that we are leveraging the full breadth of our alpha, beta and risk management capabilities to serve our clients," Fink said. During the quarter, BlackRock completed the repurchase of 13.6 million shares held by Bank of America (BAC) for about $2.5 billion. In connection with the repurchase, BlackRock issued $2 billion in debt, including $500 million of commercial paper. BofA President and CEO Brian Moynihan said the banking giant's decision to monetize its stake in BlackRock "will have no effect on our commitment to continuing this very successful partnership." Earlier this week, Bank of America reported a second-quarter loss of $8.8 billion, hurt by the latest settlement with mortgage-backed securities investors. Blackrock ended the second quarter with $3.66 trillion in assets under management, up 16% from $3.15 trillion a year earlier and 0.3% higher than $3.65 trillion at March 31. Write to Jacob Gaffney. Follow him on Twitter @jacobgaffney.