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BLK Expands Footprint in Private Credit, Nears HPS Investment Buyout
BLKBlackRock(BLK) ZACKS·2024-11-28 14:11

BlackRock (BLK) is on the cusp of acquiring HPS Investment Partners for a reported 12billion.ThiswasstatedbytheFinancialTimescitingpersonsfamiliarwiththematter.ThemoveunderscoresBlackRock′scommitmenttostrengtheningitsfootholdinthefast−growingalternativesmarket,particularlyprivatecredit—asectorwitnessingrobustdemandamidshiftingbankingdynamicsandinvestorpreferences.HPSInvestment,aprivatecreditpowerhousemanaging12 billion. This was stated by the Financial Times citing persons familiar with the matter.The move underscores BlackRock's commitment to strengthening its foothold in the fast-growing alternatives market, particularly private credit—a sector witnessing robust demand amid shifting banking dynamics and investor preferences.HPS Investment, a private credit powerhouse managing 150 billion as of Sept. 30, 2024, stands out for i ...