BlackRock Nears $12B Deal for Private Credit Manager HPS

Dec 2, 2024, 08:00 AM

BlackRock Inc., the world's largest asset manager, is reportedly close to finalizing a deal to acquire HPS Investment Partners, a private credit manager specializing in lending directly to businesses, in a transaction that could value HPS at $12 billion or more. This move signifies BlackRock's strategic expansion into the private credit market, which has been growing as businesses increasingly seek direct lending outside traditional banking channels.