BlackRock (BLK, Financial), the world's largest asset manager, is reportedly close to acquiring HPS Investment Partners, a leading private credit group. The deal is expected to be finalized shortly after the Thanksgiving holiday, with a potential valuation of around $12 billion, up from HPS's earlier IPO valuation of $10 billion.
HPS, which manages over $100 billion, is one of the largest independent managers in the thriving private credit market. If the acquisition proceeds, BlackRock's alternative assets under management could exceed $500 billion, further solidifying its competitive edge in the rapidly growing alternative investment sector.
While representatives from both BlackRock and HPS have declined to comment, the acquisition reflects BlackRock's strategic push into alternative investments, aiming to capitalize on the sector's growth potential.
