Larry Fink
Photographer: Tolga Akmen/EPAHPS Struts Into BlackRock as Fink Bets Big on Private Credit
The tie-up between a private-credit specialist and the world’s largest asset-management company points to the shifting power dynamics on Wall Street.
Scott Kapnick could afford to swagger as he feted his partners at The Modern, the elegant restaurant at the Museum of Modern Art in Manhattan.
So could his colleagues: Kapnick’s HPS Investment Partners, a major player in the fast-growing market for private credit, was about to join forces with the world’s largest money manager, BlackRock Inc.