---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-153573"
form_type: "8-K"
ticker: "BLK"
cik: "0002012383"
company_name: "BlackRock, Inc."
filed_at: "2025-07-01T23:59:59+00:00"
generated_at: "2026-05-18T10:50:32.851708+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# BlackRock closes HPS acquisition; creates Private Financing Solutions with $190B in assets

## Summary
- Delivered ~8.5M Subco Units exchangeable 1:1 for BLK common stock; up to ~13.8M additional shares potentially issuable.
- Combined private credit platform (PFS) holds $190B in client assets, led by Kapnick, French, and Patterson.
- Scott Kapnick (HPS CEO) joins as observer to BlackRock Board of Directors.
- HPS flagship strategies retain branding; now known as 'HPS, a part of BlackRock'.
- Transaction closed July 1, 2025; financial advisors include Perella Weinberg, Morgan Stanley, J.P. Morgan.

## SEC filing metadata
- accession: 0001193125-25-153573
- form_type: 8-K
- ticker: BLK
- cik: 0002012383
- company_name: BlackRock, Inc.
- filed_at: 2025-07-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2012383/000119312525153573/0001193125-25-153573-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2012383/000119312525153573/d78785d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-153573
- JSON: https://secwatch.observer/filing/0001193125-25-153573.json
- Plain text: https://secwatch.observer/filing/0001193125-25-153573.txt

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