BlackRock Cuts Private Credit Executives Hired Pre-HPS Deal

BlackRock Inc. is cutting about 10 people from its private financing solutions group as it continues to integrate its $12 billion acquisition of HPS Investment Partners.

At least three people who were on the firm’s private credit team prior to the purchase are among those affected, according to people with knowledge of the matter. The asset manager is reducing its workforce by about 250 globally, Bloomberg News reported earlier this month.