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Benzinga
Benzinga
Business
Lekha Gupta

BlackRock Makes $12 Billion Power Move - Agrees To Acquire HPS To Bolster Private Credit Offerings

BlackRock HPS HPS Investment Partners Insurance BLK

BlackRock, Inc. (NYSE:BLK) shares are trading higher today. The company disclosed a definitive agreement to acquire HPS Investment Partners for around $12 billion.

The acquisition will be fully paid in BlackRock equity, issued as “SubCo Units” by a wholly-owned subsidiary of BlackRock, exchangeable one-for-one into BlackRock common stock.

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