BlackRock (BLK) is nearing a deal to buy HPS Investment Partners, a purchase that would vault the firm into the top ranks of private credit as it seeks to become a major force in alternative assets, Bloomberg’s Dinesh Nair, Gillian Tan, and Matthew Monks report. An agreement could be announced as early as the coming week and value HPS at $12B or more, according to people with knowledge of the matter. BlackRock will pay for HPS with a mix of cash and stock, they said.
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