BlackRock Inc. BLK has announced a definitive agreement to acquire HPS Investment Partners for $12 billion in an all-equity transaction. The move signals the company’s deeper foray into the private credit 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 , 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 is buying HPS Investment Partners for $12 billion. Here's why BLK is strengthening its footprint in private credit.

BlackRock agrees to make a $12 billion acquisition that will take it deeper into the hottest trade on Wall Street.

BlackRock has agreed to buy private credit manager HPS Investment Partners in a roughly $12 billion all-stock deal that would substantially add to its coveted private asset pile. The deal would give Chief Executive Larry Fink a significant foothold in what is now one of the hottest markets on Wall Street.