3 sources·Business

BlackRock to Acquire HPS Investment Partners for $12 Billion in Strategic Move into Private Credit

BlackRock announces acquisition of HPS Investment Partners for $12 billion, expanding its reach in the thriving private credit market.

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Updated: Dec 3rd, 2024, 10:11 AM ET

Summary

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BlackRock has announced it will acquire HPS Investment Partners in a stock deal worth $12 billion. This acquisition aims to enhance BlackRock's presence in the growing private credit sector, with an integrated asset portfolio of approximately $220 billion. HPS, managing around $148 billion in assets, specializes in private credit for institutional clients. This strategic move follows BlackRock's previous acquisitions this year and is expected to drive significant growth in management fees and assets under management. The deal is anticipated to close by mid-2025, marking a further shift towards private markets for BlackRock.

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