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Laxman Pai, Opalesque Asia:

U.S. investment giant BlackRock has acquired London-based Kreos, a provider of growth and venture debt financing to technology and healthcare companies.

The deal gives the world's largest asset manager a meaningful presence in a space where it wasn't much of a player before.

"The acquisition of Kreos adds to BlackRock's position as a leading global credit asset manager and advances its ambitions to provide clients with a diverse range of private market investment products and solutions," said a press release from the American multi-national investment company based in New York City.

Kreos complements BlackRock's Global Credit business with a seasoned investment team and successful long-term track record, while the adjacent asset class unlocks additional private debt capabilities for BlackRock's clients to access a larger proportion of the risk/return spectrum, it added.

James Keenan, CIO and Global Head of BlackRock Private Credit said: "Over the past 20 years, BlackRock has built leading private debt capabilities to help clients achieve a variety of investment goals by aligning proven investment excellence with long-term market opportunities. The Kreos team has built a world-class investment process and delivered for clients through multiple cycles. Coupled with our expectation that growth and venture lending will figure prominently in the expansion of the global direct lending opportunity set going forward, we believe this is an op......................

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