HPS co-founders Scott Kapnick, Scot French, and Michael Patterson are joining BlackRock’s global executive committee while Kapnick will also be an observer on BlackRock’s boar

BlackRock will buy private credit firm HPS Investment Partners for about $12 billion in an all-stock deal, the companies said on Tuesday, as the world's largest asset manager seeks to expand in a red-hot market.

BlackRock (BLK) to acquire HPS Investment Partners for $12B in equity, expanding private credit franchise and increasing private markets fee-paying AUM and management fees.

BlackRock to acquire HPS Investment Partners for $12 billion in BlackRock equity, creating a full-service, fiduciary provider of public and private asset management and technology solutions for insurance clients.

BlackRock said Tuesday it will acquire HPS Investment Partners for $12 billion in stock, as the world's largest asset manager looks to grow its presence in the highly popular private credit space.

BlackRock 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. An agreement could be announced as early as this week and value HPS at $12 billion or more,

BlackRock , oddly enough, is looking a lot more like a streaming service. The index-fund goliath agreed to buy private lender HPS for $12 billion, to get its hands on the hottest new content to push through its formidable pipes.

BlackRock Inc., once seen as punching below its weight in private markets, is shedding that stigma as its purchase of HPS Investment Partners makes it a force in the credit industry, Bloomberg's Sridhar Natarajan says on "Bloomberg .

BlackRock will acquire global credit investment manager HPS Investment Partners in a $12 billion deal, marking the giant's latest acquisition in private markets that increases its private credit assets to about $220 billion.