From CNBC: 2024-12-03 07:44:54

BlackRock to acquire HPS Investment Partners for $12 billion in stock to expand presence in private credit. Deal expected to close mid-2025 during boom in private credit space, with comparable companies up 54.6% and 46% in 2024. Creates integrated private credit franchise with $220 billion in assets. BlackRock oversees $11.5 trillion. Deal expected to raise private market AUM and management fees by 40% and 35%, respectively.

Read more: BlackRock expanding in private credit, buys HPS Investment Partners for $12 billion