BlackRock is acquiring 100% of HPS Investment Partners for around $12 billion.
HPS is a global credit investment manager with approximately $148 billion in client assets. In addition to seven offices in the US, it has offices in London, Luxembourg, Munich, Dubai, Hong Kong, Singapore and Sydney, according to HPS’s website.
The equity is issued by a wholly-owned subsidiary of BlackRock SubCo Units, and exchangeable on a one-for-one basis into BlackRock common stock.
According to a media release, the combined private credit franchise will work with BlackRock’s $3 trillion public fixed income business to provide both...
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