On December 3, 2024, BlackRock announced its agreement to acquire HPS.
BlackRock, Inc. (“BlackRock”) announced, on December 3, 2024, its agreement to acquire HPS Investment Partners, LLC (“HPS”). Under the terms of the transaction, BlackRock will acquire HPS for approximately $12 billion, with 100% of consideration paid in BlackRock equity. The equity is issued by a wholly-owned subsidiary of BlackRock, and exchangeable on a one-for-one basis into BlackRock common stock. Further terms of the deal were not disclosed.
BlackRock (NYSE: BLK), based in New York, is an investment management firm. As of September 2024, BlackRock had approximately $11.475 trillion in assets under management.
HPS, based in New York, is a global credit-focused alternative investment firm. As of December 2024, HPS had $148 billion in assets under management. BofA Securities, Inc., served as a financial advisor to HPS on this transaction.
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