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B. G., Opalesque Geneva:

BlackRock and HPS Investment Partners have agreed for BlackRock to acquire HPS for approximately $12bn, with 100% of the consideration paid in BlackRock equity.

This purchase was widely anticipated. HPS was considering an IPO earlier this year but instead opted to sell to the giant asset manager, reports Fortune, adding that BlackRock's stock on Tuesday closed at $1039, up nearly 2%.

Headquartered in New York and founded in 1988, BlackRock is the world's largest asset manager, with $11.5tln in AuM at the end of 2023. Founded in 2007 and with offices in New York and Chicago, HPS is a global credit investment manager with $148bn in client assets as of September 2024.

The future of fixed income

The future of fixed income is building public and private portfolios to optimize liquidity, yield, and diversification, according to the announcement. This transaction will bring together BlackRock's strong corporate and asset owner relationships with HPS's diversified origination and capital flexibility. The combined private credit franchise will work side-by-side with BlackRock's $3tln public fixed-income business to provide both public and private income solutions for clien......................

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