Reported 1 day ago
BlackRock has announced a $12 billion acquisition of HPS Investment Partners, marking a significant move into the private credit market, which has expanded rapidly due to higher interest rates and regulatory changes affecting traditional banks. This deal, BlackRock's third major acquisition in 2024, positions the firm strategically in a market that now totals approximately $1.6 trillion. The partnership with HPS, a company founded by former Goldman Sachs and JPMorgan executives, aims to create a new unit focused on private financing solutions and is expected to finalize by mid-2025, pending regulatory approvals.
Source: YAHOO