(Reuters) – BlackRock has agreed to buy private credit firm HPS Investment Partners for about $12 billion in an all-stock deal, the companies said on Tuesday.
The deal will give BlackRock a massive foothold in private credit that has become one of the hottest investments on Wall Street.
Private credit, lending to companies by institutions other than banks, has grown rapidly in recent years as stricter regulations made it more expensive for traditional lenders to finance riskier loans.
The deal is expected to close in mid-2025.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar)
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