Deals
BlackRock Is Near Deal to Buy Private Credit Manager HPS
- The acquisition could value HPS at $12 billion or more
- A deal could be announced as soon as the coming week
BlackRock Chief Executive Officer Larry Fink has moved aggressively to expand in private markets.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
BlackRock Inc. is nearing a deal to buy HPS Investment Partners, a purchase that would vault the firm into the top ranks of private credit as it seeks to become a major force in alternative assets.
An agreement could be announced as early as this week and value HPS at $12 billion or more, according to people with knowledge of the matter, asking not to be identified because the information is private. BlackRock will pay for HPS with a mix of cash and stock, they said.