BLK Expands Footprint in Private Credit, Nears HPS Investment Buyout [Yahoo! Finance]
Ares Management Corporation Class A (ARES)
Last ares management corporation class a earnings: 2/13 06:00 am
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Source: Yahoo! Finance
The move underscores BlackRock's commitment to strengthening its foothold in the fast-growing alternatives market, particularly private credit—a sector witnessing robust demand amid shifting banking dynamics and investor preferences. HPS Investment, a private credit powerhouse managing $150 billion as of Sept. 30, 2024, stands out for its early entry and dominance in the space. Founded in 2007 as a unit of JPMorgan Chase JPM, the firm has capitalized on regulatory shifts post-2008 stringent regulations, which led banks to retreat from traditional lending. In 2016, HPS Investment's founders – Scott Kapnick, Scot French and Michael Patterson – acquired it from JPM. For BlackRock, acquiring HPS Investment means not only gaining access to a well-established player but also rapidly boosting its presence in private credit, complementing its existing $450 billion alternatives portfolio. The acquisition of HPS Investment aligns seamlessly with BlackRock's broader strategy of diversifyi
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ARES
Earnings
- 11/1/24 - Miss
ARES
Sec Filings
- 12/2/24 - Form 4
- 12/2/24 - Form 4
- 12/2/24 - Form 4
- ARES's page on the SEC website