WASHINGTON (dpa-AFX) - BlackRock, Inc. (BLK) has completed its acquisition of HPS Investment Partners, creating a unified platform to meet growing client demand for integrated credit solutions.
The move positions BlackRock at the forefront of the convergence between public and private credit markets.
The newly formed Private Financing Solutions - PFS will combine BlackRock's public fixed income franchise with HPS's private credit, GP/LP solutions, and CLO businesses. With $190 billion in client assets, PFS aims to offer scalable, seamless income strategies for a wide range of investors, including insurance firms, pension funds, and individual savers.
BlackRock Chairman and CEO Larry Fink said the combination strengthens the firm's ability to deliver end-to-end financing solutions globally, blending public and private strategies under the firm's 'One BlackRock' model.
HPS CEO Scott Kapnick, who joins as a Board observer, emphasized the vast opportunity in private credit markets and the power of the new platform to deliver value through scale, innovation, and disciplined execution.
HPS's core strategies-SIP, SLF, CSL, and HLEND-will retain their branding under the new name HPS, a part of BlackRock.
BLK currently trades at $1,054.27 or 0.48% higher on the NYSE.
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