  We model the cosmological co-evolution of galaxies and their central
supermassive black holes (BHs) within a semi-analytical framework developed on
the outputs of the Millennium Simulation (Croton et al., 2006; De Lucia &
Blaizot, 2007). In this work, we analyze the model BH scaling relations,
fundamental plane and mass function, and compare them with the most recent
observational data. Furthermore, we extend the original code developed by
Croton et al. (2006) to follow the evolution of the BH mass accretion and its
conversion into radiation, and compare the derived AGN bolometric luminosity
function with the observed one. We find, for the most part, a very good
agreement between predicted and observed BH properties. Moreover, the model is
in good agreement with the observed AGN number density in 0<z<5, provided it is
assumed that the cold gas fraction accreted by BHs at high redshifts is larger
than at low redshifts (Marulli et al., 2008).
