HPS co-founders Scott Kapnick, Scot French, and Michael Patterson are joining BlackRock’s global executive committee while Kapnick will also be an observer on BlackRock’s boar

BlackRock will buy private credit firm HPS Investment Partners for about $12 billion in an all-stock deal, the companies said on Tuesday, as the world's largest asset manager seeks to expand in a red-hot 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 has agreed to acquire private credit firm HPS Investment Partners in a deal valuing the company at about $12 billion, as BlackRock continues its push into the growing sector.

The asset management behemoth is continuing its alternatives push with the acquisition reportedly valuing HPS at $12 billion.

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

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 credit investment manager HPS Investment Partners in a stock deal valued at about $12 billion, giving it more ways to service its insurance clients

BlackRock Inc., once seen as punching below its weight in private markets, is shedding that stigma as its purchase of HPS Investment Partners makes it a force in the credit industry, Bloomberg's Sridhar Natarajan says on "Bloomberg .