BlackRock completes HPS acquisition; PFS unit formed with $190B in private credit assets

BlackRock Private Credit Fund

BlackRock (BLK) closed its previously announced acquisition of HPS Investment Partners on July 1, 2025.
Combined private credit franchise has $190 billion in client assets; new unit Private Financing Solutions (PFS) created.
PFS led by Scott Kapnick (CEO of HPS), Scot French, and Michael Patterson; HPS branding retained.
Scott Kapnick to join BlackRock Board as observer; deal advised by multiple banks.

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