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Stock impact report

BlackRock Acquires HPS, a Major Lender of Private Credit [The New York Times]

Evercore Inc. Class A (EVR) 
Last evercore inc. class a earnings: 4/22 06:00 am Check Earnings Report
BlackRock, the world’s largest asset manager, is known for its heft in the public markets, particularly through its iShares exchange-traded funds.But this year, BlackRock has been aggressively claiming a major foothold in the private markets. On Tuesday, it made its latest push,announcingBuying HPS, which manages $148 billion in investor money, would fundamentally reshape almost any other financial firm in the world. For BlackRock, which manages about $11.5 trillion for its clients, that figure is just a small percentage of its overall asset base.Still, the deal to buy HPS, after two other significant private-market transactions this year, is helping answer a question that BlackRock’s own investors have been asking: With so much money already, where can BlackRock grow?Early this year, BlackRock spent roughly $12.5 billion to acquireGlobal Infrastructure PartnersannouncedThe HPS deal will make BlackRock one of the five largest providers of private credit in the world.Private credit is Show less Read more
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