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BlackRock acquires HPS Investment Partners for $12bn in private markets push

Asset Management Correspondent

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BlackRock, the world’s largest fund management group, has struck a deal to acquire private credit manager HPS Investment Partners for $12bn, the latest blockbuster acquisition negotiated by chief executive Larry Fink.

HPS, which manages $148bn in assets, was founded in 2007 by a trio of former Goldman Sachs employees, including former investment banking co-head Scott Kapnick.

Acquisition will see world’s largest asset manager further expand its reach into the booming private credit market

David Ricketts

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