BlackRock, KKR Take Majority Stake in Ranieri Rental Firm

BlackRock Inc., the world’s biggest money manager, and private-equity firm KKR & Co. have gained a majority stake in Home Partners of America Inc., a single-family rental company backed by Lew Ranieri.

Home Partners raised capital from BlackRock and KKR, reducing Ranieri’s stake, according to two people familiar with the transaction who asked not to be identified because the information is private. The investments were made within the last few months and will be used for an expansion, said the people, who wouldn’t provide financial terms.