BlackRock acquires HPS Investment Partners

BlackRock has completed the acquisition of HPS Investment Partners, a global credit-focused alternative investment manager. The transaction, finalized on July 1, 2025, was executed entirely through BlackRock equity.

The merger establishes a new private financing solutions (PFS) business unit within BlackRock. This integrated platform manages approximately $370 billion in client assets, which includes $205 billion in private credit assets. The combined entity employs roughly 1,300 people and 590 investment professionals globally, offering expertise in senior and junior credit, real estate, asset-based finance, and collateralized loan obligations.

As part of the transition, HPS leaders Scott Kapnick, Scot French, and Michael Patterson have joined BlackRock’s Global Executive Committee.