BlackRock Buys Credit Firm HPS in $12 Billion All-Stock Deal
- HPS founders will lead a new private-financing solutions unit
- The transaction is expected to be completed in mid-2025
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BlackRock Inc. agreed to buy HPS Investment Partners in an all-stock deal valued at roughly $12 billion, a purchase that will propel the world’s largest asset manager into the highest ranks of private credit.
HPS founders Scott Kapnick, Scot French and Michael Patterson will lead a new private financing solutions business unit with BlackRock as the company seeks to offer the full range of public fixed-income and alternative credit funds to clients, the asset manager said Tuesday in a statement.