BlackRock (BLK) and HPS will form a new private financing solutions business unit led by Scott Kapnick, Scot French, and Michael Patterson. This combined platform will have broad capabilities across senior and junior credit solutions, asset-based finance, real estate, private placements, and CLOs. To develop a full-service financing solution for alternative asset managers, the business will unite direct lending, fund finance, and BlackRock’s GP and LP solutions. This combination creates an integrated solution for clients and borrowers across corporate and asset-based finance, investment and non-investment grade and private credit. As part of this transaction, Messrs. Kapnick, French, and Patterson will join BlackRock’s Global Executive Committee and Kapnick will be an observer to the BlackRock Board of Directors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BLK:
- BlackRock to acquire HPS Investment Partners for about $12B
- BlackRock to acquire HPS Investment Partners for about $12B
- BlackRock near deal to buy private credit manager PHS, Bloomberg says
- M&A News: Blackrock to Buy HPS for $12B to Fortify Alternative Investments Business
- BlackRock in preliminary deal to acquire HPS for about $12B, FT reports