Thanks, Gary. Good morning, everyone and thank you for joining the call. I truly hope that all of you are staying healthy and safe.
Fortunately, I've been traveling again. And in recent months to see clients worldwide. It's great to be back on the road meeting face-to-face with our clients. And I found our clients actually more engaged, more interested in our conversations than ever before.
As investors continue to navigate uncertainty in the markets and in the broader global economic outlook, BlackRock is partnering more closely with our clients to help them achieve long-term -- their long-term goals and helping them seeking new opportunities. BlackRock is providing insights into the global economy, guidance on how to navigate the market volatility, and providing solutions for their entire portfolio.
Our comprehensive unified investment in technology platform combined with our steadfast client-centric approach is enabling us to deliver constantly and consistently strong results for our stakeholders. Long-term net inflows of $98 billion in the third quarter represented 9% organic base fee growth was driven by continued strength in our strategic growth opportunities that we spoke to you about in the past.
Our consecutive quarters of strong growth are the direct result of these investments that we've made over time to enhance and evolve our business and to be more prepared for the needs of our clients.
We have now delivered organic base fee growth in excess of our 5% target for six consecutive quarters, including 13% growth over the last 12 months.
We also generated 30% year-over-year growth in Technology Services revenues, as more clients are turning to Aladdin to execute on their growth aspirations and helping them scale their business. At our promising global economic restart earlier this year, we saw certain countries and markets take a step back in recent months as they are confronted with the economic -- with the virus variance and economic issues. Concerns around slowing economic growth are increasing while policymakers evaluating the timing and pace of easing, whether it's rate hikes or reduction in bond purchases. And with interest rates still at historically low levels, investors need solutions that can earn a real yield and be resilient and in a higher inflationary world. Inflationary trends are appearing more than transitory, reflecting structural changes, including a shift from consumerism to job creation, rising wage growth, and the energy transition.
As I said in a speech to the G20 in July, society needs to rapidly invest in innovation to offset inflationary pressures associated with the transition to a net 0 economy. We need to make sure that we are pushing Just as hard on the demand side as we are on the supply side. Otherwise, we risk supply issues that drive up the cost for consumers, especially for those who can least afford it. Against this backdrop, clients are turning to BlackRock more than ever before and we are using the full breadth of our capabilities to meet our client's needs. BlackRock, a top-performing active platform continues to outpace the industry, generating $45 billion net inflows in the quarter and nearly $200 billion over the last 12 months. Momentum and active equities continue and BlackRock's number 1 in year-to-date asset gathering in the U.S. active equity mutual fund industry is up from number 3 in 2020. These results reflect our investments over time to incorporate data science, integrate ESG considerations, and enhancing portfolio construction capabilities across the entire active business. And we remain. Committed to continuous innovation so we can deliver strong and durable alpha for our clients over the long term.
In addition to our traditional active strategies, you're also seeing clients increase portfolio allocation to private markets.
As they reach for yield, institutions are turning to BlackRock for private credit, real estate, and private equity solutions. And well, we're seeing advisors access the private market through our record. Are we to closed-end fund vehicle, which has up to 25% allocation to alternatives? and accredited investor solutions. In total, we raised about $5 billion of illiquid alternative flows and commitments in the quarter, and we continue to steadily deploy that capital for our clients. Portfolio construction and asset allocation decisions are critical in achieving desired returns, and more clients are adapting our ETFs as a building block in their portfolios. We generated 58 billion of ETF net inflows in the third quarter, with growth across each of our core, strategic, and precision product categories, including strong flows in fixed income as clients sought inflation protection in sources of income. We crossed $200 billion in ETF inflows year-to-date, exceeding our 2020 full-year flows.
We are seeing this momentum across the entire ETF industry as more and more investors discover the convenience, efficiency, and transparency that the ETF vehicle has. We see opportunities well beyond the 30 million people who use our ETFs today and continue to believe in the long-term growth potential for ETFs. And we will remain confident in our ability to deliver strong organic base fee growth and lead the industry. In my conversations with clients, I hear about how they are looking to focus on their core business and partner with select investment managers that have the expertise, the technology, the scale, to navigate the increasingly complex markets. We see outsourcing portfolio management through OCIO for institutions and for model portfolios for wealth managers, both of which are fast-growing areas of the industry. BlackRock is well-positioned to capture this opportunity and partner with our clients across our whole portfolio. Few asset managers have to scale in the diversity of offering to do this and the consolidation we have seen in the industry is further validation of the business model that we've already built here at BlackRock. We're also innovating to expand clients' options for how they participate in proxy voting decisions, much like asset allocation and portfolio construction, where some clients now can take an active role while others outsource these decisions to us. More of our clients are interested in voting on their index holdings. This is another great example of one BlackRock effort to further democratize choice for our clients and is in line with our commitment to provide them with the broadest range of options. Client demand for more holistic and flexible technology-driven solutions is also increasing. Technology Services grew -- revenue grew by 13% year-over-year as Aladdin's capturing opportunity from industry shifts. And we are leveraging our user provider model to further evolve Aladdin. The combination of Aladdin and eFront has been well received by clients and we now have over two dozen clients using both across their entire whole portfolios.
As we've done throughout our history, we continue to invest ahead of our client's needs and evolve BlackRock to lead in the biggest long-term opportunities of the future. And we are seeing meaningful progress in executing on these opportunities. In sustainability, momentum remains strong, and so we generated another $31 billion of net inflows across all regions. Active sustainable net inflows of 7 billion were led by the launch of our ESG capital allocation trust closed-end fund, which Gary mentioned earlier.
As ETF -- in ETF iShares is leading sustainable provider, capturing nearly 50% of the industry category inflows year-to-date. In Europe, almost half of all industry flows are now going into sustainable ETFs, up from less than 10% just three years ago. Clients also want an impact-oriented strategy that seeks to deliberate targeted environmental or social outcomes. We recently repurposed one of our money market funds to seek positive social outcomes by supporting a diverse trading ecosystem. BlackRock will also be contributing 5% of our management fees, net revenues from the funds to support students in historically black colleges and universities and predominantly black institutions. This fund is already growing more than 40% -- 20% to 4.5 billion since its conversion in July. And we are proud to work together with our clients to help make a positive impact on the futures of many diverse students, on the futures of many diverse business owners, and in their own communities. BlackRock is also supporting clean energy solutions that change the demand curve for hydrocarbons, which is actually accelerating today and driving energy prices higher. The gap in costs between clean energy technologies and those that will emit greater amounts of greenhouse gases is still very large for most things, which is why BlackRock is supporting a range of initiatives to help bring down the green premium of clean energy. Building our partnership with Temasek earlier this year to advance a decarbonization solution, the BlackRock Foundation announced last month a $100 million grant to the breakthrough Energy Catalyst program. This grant will help speed the development and commercialization of Clean Energy Technologies and BlackRock will provide our investment expertise as the program deploys its financing around the world.
We have a long history of innovating to help millions of people worldwide improve retirement readiness. And today we are the largest investment-only defined contribution provider in the industry with over $1 trillion of assets under management on behalf of over 7,200 defined contribution plans. -- excuse me, 72,000 defined contribution plans.
Our targeted franchise LifePath has seen $23 billion of net inflows so far this year, representing a 9% organic growth rate far in excess and broader in the target date industry. And we continue to innovate ahead of the future needs of our clients. We recently announced a significant milestone in our retirement income solution; LifePath Paycheck, large plan sponsors whose plan together represents about 7.5 billion in target-date investments, have elected to work with BlackRock to implement our LifePath Paycheck solutions, as a default investment option and their investment retirement plans subject to necessary approvals and conditions. We remain committed to working alongside our clients and partners to help more people address the challenges of spending and income in retirement. We believe that globally integrated financial markets provide people, companies, and governments with better and more efficient access to capital that supports economic growth around the world. This conviction drives our long-term strategy in China as it has in every community, in every country where we operate. BlackRock's clients have benefited from our focus on the long term, and we will bring this perspective to help Global Client --Clients invest in China. And importantly, to deliver investment solutions to Chinese investors. After receiving our FMC and WMC license earlier this year, we launched our first two products in the third quarter, raising over a billion dollars in two weeks from more than 110,000 investors. This milestone demonstrates the value proposition of BlackRock's platform and the strength of our partnerships. It also highlights the start of BlackRock's living its purpose in China by helping more people secure in China a better future and investing in the long-term and retiring, hopefully in dignity.
Just as we continue to evolve our business to meet client needs, we also evolve our entire organization. A key driver of BlackRock's success over the years has been our focus and deliberate talent processes, on delivering leaders with a broad range of expertise, a deep commitment to the firm, and a One BlackRock mindset. This commitment to the evolution also extends to our Board of Directors. We recently elected 2 new Directors to our Board, Beth Ford, President and CEO of Land O' Lakes, and Kristin Peck, CEO of Zoetis Beth and Kristin are recognized leaders in their respective industries and they bring a wide range of valuable perspectives and experiences that will help BlackRock and the board navigate our future on behalf of all our shareholders.
Looking ahead, I am confident the investments we're making today will enable us to capture greater opportunities and to deliver industry-leading growth in the years to come. More immediately, I'm very excited to welcome our colleagues back to BlackRock's offices in certain parts of the world where we begin our future of work pilot. It's our a culture that can't be built or maintained remotely over the long term, that ensures we can never forget who we are, who we serve. It also helps us in our markets and our industry and most importantly, help us continue to evolve and experience the constant change of the world. Having togetherness and connection with all our employees is vital for our culture and vital for serving the needs of our clients. With that, let's open it up for questions.