BlackRock has made a $12 billion purchase of private-credit provider HPS Investment Partners. This deal aims to provide affluent investors with increased access to the growing world of private credit.
Wealthy clients will benefit from new product offerings, while millions of Americans owning annuities will gain exposure to private credit as insurance companies invest more in the asset class to boost returns on their investments.
The acquisition marks a significant move by BlackRock to expand its reach into private credit. With this deal, investors can expect more opportunities for growth in this rapidly expanding market.
Source: https://www.marketwatch.com/story/predicting-doubling-of-private-credit-market-blackrock-strikes-12-billion-deal-for-hps-3e184afe