The acquisition may be announced soon after the Thanksgiving holiday, as per sources familiar with the matter.

BlackRock has a handshake deal to buy private credit group HPS Investment Partners, the Financial Times reported on Wednesday. The final deal value would be closer to $12 billion, which offers a significant premium over HPS's post-IPO valuation of $10 billion,

BlackRock Inc. is close to an agreement to buy private credit group HPS Investment Partners, as the world’s largest asset manager tries to compete in the fast-growing alternatives space, the Financial Times reported.

BlackRock had a verbal agreement to acquire a private credit manager, HPS Investment Partners. The deal was first reported by the Financial Times, stating that the value of the deal would be closer to $12 billion. This would give HPS a higher premium as compared to a post-IPO scenario, which would only give it a valuation of $10 billion.

BlackRock, the world's largest asset manager with $11.5 trillion in assets, is finalizing a deal to acquire HPS Investment Partners, a prominent private credit firm managing nearly $150 billion.

BLACKROCK has a handshake deal to buy private credit group HPS Investment Partners, the Financial Times reported on Wednesday (Nov 27). Read more at The Business Times.