---
schema_version: "secwatch.filing_event.v1"
accession: "0001133228-24-010815"
form_type: "8-K"
ticker: "TCPC"
cik: "0001370755"
company_name: "BlackRock TCP Capital Corp."
filed_at: "2024-12-03T23:59:59+00:00"
generated_at: "2026-05-29T09:40:32.627904+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# BlackRock to acquire HPS Investment Partners for ~$12B in equity; combined private credit franchise ~$220B

## Summary
- Acquisition for 12.1M SubCo Units exchangeable into BlackRock common; ~$12B total consideration.
- HPS has ~$148B client assets; combined private credit AUM expected to reach ~$220B.
- Deal expected to increase private markets fee-paying AUM by 40% and management fees by ~35%.
- Expected to close mid-2025 subject to regulatory approvals; modestly accretive to EPS in first full year post-close.
- HPS leadership (Kapnick, French, Patterson) to lead new unit and join BlackRock executive committee.

## SEC filing metadata
- accession: 0001133228-24-010815
- form_type: 8-K
- ticker: TCPC
- cik: 0001370755
- company_name: BlackRock TCP Capital Corp.
- filed_at: 2024-12-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1370755/000113322824010815/0001133228-24-010815-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1370755/000113322824010815/btcc-efp12545_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001133228-24-010815
- JSON: https://secwatch.observer/filing/0001133228-24-010815.json
- Plain text: https://secwatch.observer/filing/0001133228-24-010815.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.