---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-269350"
form_type: "8-K"
ticker: "BLK"
cik: "0002012383"
company_name: "BlackRock, Inc."
filed_at: "2024-12-03T23:59:59+00:00"
generated_at: "2026-05-29T10:25:55.638398+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# BlackRock to acquire HPS Investment Partners for ~$12B in equity, expanding private credit to ~$220B

## Summary
- Total consideration of ~12.1M SubCo Units (exchangeable 1:1 for BLK common); up to 13.7M shares possible with deferred/earn-out.
- HPS manages ~$148B in client assets; combined private credit franchise ~$220B.
- Deal expected to increase private markets fee-paying AUM by 40% and management fees by ~35%; modestly accretive to as-adjusted EPS in first full year.
- HPS leadership (Kapnick, French, Patterson) to lead new unit; Kapnick joins BlackRock board as observer.
- Closing expected mid-2025 subject to regulatory approvals; BlackRock to retire/refinance ~$400M of HPS debt.

## SEC filing metadata
- accession: 0001193125-24-269350
- form_type: 8-K
- ticker: BLK
- cik: 0002012383
- company_name: BlackRock, Inc.
- filed_at: 2024-12-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 3.02, 8.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2012383/000119312524269350/0001193125-24-269350-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2012383/000119312524269350/d853951d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-269350
- JSON: https://secwatch.observer/filing/0001193125-24-269350.json
- Plain text: https://secwatch.observer/filing/0001193125-24-269350.txt

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