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,

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

BlackRock is diversifying away from its core business, index investing and ETFs, seeking to build its fee-generation capacity

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.