BlackRock Makes $12 Billion Power Move - Agrees To Acquire HPS To Bolster Private Credit Offerings

Benzinga00:52

BlackRock, Inc. (NYSE:BLK) shares are trading higher today. The company disclosed a definitive agreement to acquire HPS Investment Partners for around $12 billion. The acquisition will be fully paid ...

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The company disclosed a definitive agreement to acquire HPS Investment Partners for around $12 billion.\nThe acquisition will be fully paid ...</p>\n\n<a href=\"https://finance.yahoo.com/news/blackrock-makes-12-billion-power-165207859.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BlackRock Makes $12 Billion Power Move - Agrees To Acquire HPS To Bolster Private Credit Offerings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBlackRock Makes $12 Billion Power Move - Agrees To Acquire HPS To Bolster Private Credit Offerings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-04 00:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/blackrock-makes-12-billion-power-165207859.html><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BlackRock, Inc. (NYSE:BLK) shares are trading higher today. The company disclosed a definitive agreement to acquire HPS Investment Partners for around $12 billion.\nThe acquisition will be fully paid ...</p>\n\n<a href=\"https://finance.yahoo.com/news/blackrock-makes-12-billion-power-165207859.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2264538146.SGD","symbol_name":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","start_time":0,"source_url":"https://finance.yahoo.com/news/blackrock-makes-12-billion-power-165207859.html","article_id":"2488923988","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/0aM7m9hbDw2a9ByoITP1YA--~B/aD01NTM7dz05ODM7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/Benzinga/afa5c6d0ec91b398e3bfb41a6095e265"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2488923988","pubTimestamp":1733244727,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"BlackRock, Inc.  shares are trading higher today. The company disclosed a definitive agreement to acquire HPS Investment Partners for around $12 billion.The acquisition will be fully paid in BlackRock equity, issued as “SubCo Units” by a wholly-owned subsidiary of BlackRock, exchangeable one-for-one into BlackRock common stock.A portion of the consideration will be paid at closing, with approximately 9.2 million SubCo Units paid at the same time.About 25%  will be deferred for five years, contingent on post-closing conditions. Additionally, up to 1.6 million SubCo Units may be earned based on financial performance milestones. The total deal could result in the issuance of approximately 13.7 million BlackRock shares.The acquisition will integrate BlackRock’s extensive corporate and asset owner relationships with HPS’s expertise in diversified origination and capital flexibility. This transaction strengthens BlackRock’s offerings for insurance clients.Together, the combined private credi","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","BK4585":"ETF&股票定投概念","IE00B64PRP62.GBP":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (GBP) ACC","BK4534":"瑞士信贷持仓","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","IE00B3QW5Z07.USD":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (USD) ACC","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","IE00BGHQF748.EUR":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (EUR) ACC","IE00BVYPNV92.GBP":"GUINNESS GLOBAL EQUITY INCOME \"C\" (GBP) ACC","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU1291159041.SGD":"CPR Invest - Global Silver Age A2 Acc SGD-H","IE00BGHQF631.EUR":"GUINNESS GLOBAL EQUITY INCOME \"C\" (EUR) ACC","IE00B3PB1722.GBP":"GUINNESS GLOBAL EQUITY INCOME \"C\" (GBP) INC","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","IE00B42XCP33.USD":"GUINNESS GLOBAL EQUITY INCOME \"C\" (USD) INC","LU0731783394.SGD":"Fidelity Global Dividend A-MINCOME(G)-SGD","BK4581":"高盛持仓","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","BK4135":"资产管理与托管银行","LU1599440770.SGD":"FIDELITY GLOBAL DIVIDEND \"A\" (SGDHDG) INC","LU1989771016.USD":"东方汇理环球老龄化投资基金 A2 Acc","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","PW":"Power REIT","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","BK4084":"特种房地产投资信托","BK4504":"桥水持仓","LU1670628061.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) INC","IE00BVYPNW00.USD":"GUINNESS GLOBAL EQUITY INCOME \"C\" (USD) ACC","LU1509826696.USD":"FIDELITY GLOBAL DIVIDEND \"A\" (USD) INC B","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","LU0731783048.USD":"FIDELITY GLOBAL DIVIDEND \"A\" (USD) INC MONTHLY (G)","BK4234":"特殊用途房地产信托","BLK":"贝莱德","IE00BDGV0183.EUR":"GUINNESS GLOBAL EQUITY INCOME \"C\" (EUR) INC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU0772969993.USD":"FIDELITY GLOBAL DIVIDEND \"A\" (USD) ACC","BK4588":"碎股","BK4567":"ESG概念","BK4535":"淡马锡持仓","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","FDFF":"Fidelity Disruptive Finance ETF","LU0742537680.HKD":"FIDELITY GLOBAL DIVIDEND \"A \" (HKD) INC","LU1481011671.HKD":"FIDELITY GLOBAL DIVIDEND \"A\" (HKDHDG) INC","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","LU1481011911.USD":"FIDELITY GLOBAL DIVIDEND \"A\" (USDHDG) INC"},"translate_title":"贝莱德斥资120亿美元收购HPS以加强私人信贷产品","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PW":1,"BLK":1,"FDFF":1},"content_text":"BlackRock, Inc. (NYSE:BLK) shares are trading higher today. The company disclosed a definitive agreement to acquire HPS Investment Partners for around $12 billion.\nThe acquisition will be fully paid in BlackRock equity, issued as “SubCo Units” by a wholly-owned subsidiary of BlackRock, exchangeable one-for-one into BlackRock common stock.\nA portion of the consideration will be paid at closing, with approximately 9.2 million SubCo Units paid at the same time.\nAbout 25% (2.9 million SubCo Units) will be deferred for five years, contingent on post-closing conditions. Additionally, up to 1.6 million SubCo Units may be earned based on financial performance milestones. The total deal could result in the issuance of approximately 13.7 million BlackRock shares.\nThe acquisition will integrate BlackRock’s extensive corporate and asset owner relationships with HPS’s expertise in diversified origination and capital flexibility. This transaction strengthens BlackRock’s offerings for insurance clients.\nTogether, the combined private credit franchise with ~$220 billion in client assets and BlackRock’s $3 trillion public fixed-income business will offer clients comprehensive public and private income solutions across their entire portfolios.\nThe combined platform will offer end-to-end capabilities in credit solutions, asset-based finance, real estate, private placements, and CLOs.\nThe acquisition positions BlackRock as a full-service, fiduciary provider of public and private asset management and technology solutions for the insurance sector.\nAs part of the transaction, BlackRock plans to retire or refinance approximately $400 million of existing HPS debt. The deal is not expected to significantly impact BlackRock’s leverage profile.\nThe company expects to increase private markets fee-paying AUM and management fees by 40% and 35%, respectively, and be modestly accretive to BlackRock’s as-adjusted earnings per share in the first full year post-close.\nThe transaction is expected to close in mid-2025, subject to regulatory approvals and customary closing conditions. Notably, BlackRock projects the private debt market to surpass $4.5 trillion by 2030.\nLaurence D. Fink, BlackRock Chairman and CEO, said, ”With GIP, and now HPS, we are expanding our private markets capabilities across our comprehensive global platform. Our Aladdin technology, including eFront, and soon Preqin, will make access to private markets simpler and more transparent. These capabilities, together with our global reach, deep relationships, and powerful technology, differentiate our ability to serve clients.”\nAs of the third-quarter end, BlackRock’s total AUM stood at $11.5 trillion.\nInvestors can gain exposure to the stock via Fidelity Disruptive Finance ETF (NASDAQ:FDFF) and Capitol Series Trust The Nightview Fund NITE (NYSE:NITE).\nPrice Action: BLK shares are up 1.04% at $1,030.72 at the last check Tuesday.\nRead Next:\n\nBlackRock Sees ‘Renewed Sense Of Optimism’ Around Bitcoin\n\nPhoto via Shutterstock.\nUp Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market.\nGet the latest stock analysis from Benzinga?\n\nBLACKROCK (BLK): Free Stock Analysis Report\n\nThis article BlackRock Makes $12 Billion Power Move - Agrees To Acquire HPS To Bolster Private Credit Offerings originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2488923988"}