BlackRock is among a number of firms looking into a purchase of private credit firm HPS Investment Partners, which is also considering an IPO that could value it at more than $10B, Bloomberg reported October 9, citing people familiar with the matter.
The firms have held talks, but no deal – which would require a premium to such an IPO valuation – is imminent, according to Bloomberg. Private equity firm CVC Capital Partners is among a number of others aside from BlackRock interested in potentially acquiring HPS ahead of an IPO.
As previously reported, BlackRock overhauled leadership in its private credit business in mid-September, around the same time it announced further efforts to expand its private markets business, including a tie-up with Partners Group to expand retail access to private markets products and a partnership with Microsoft and a UAE-affiliated MGX on a $30B AI infrastructure fund.
Source: https://www.bloomberg.com/news/articles/2024-10-09/blackrock-among-suitors-said-to-explore-buying-credit-firm-hps
