BlackRock nears deal to buy private credit firm

Private credit: UK Prime Minister Keir Starmer (centre, right) hosts an investment discussion with Fink (centre, left) and members of the BlackRock board in London. Fink has vowed that he will help “index the private markets”. — AP

LONDON: BlackRock Inc 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 the coming week and value HPS at US$12bil or more, according to people with knowledge of the matter.