(Reuters) - BlackRock has a handshake deal to buy private credit group HPS Investment Partners, the Financial Times reported on Wednesday. The final deal value would be closer to $12 billion, which offers a significant premium over HPS's post-IPO valuation of $10 billion, the report said, citing two sources familiar with the matter.

BlackRock, the world's largest asset manager with $11.5 trillion in assets, is finalizing a deal to acquire HPS Investment Partners, a prominent private credit firm managing nearly $150 billion.

BLACKROCK has a handshake deal to buy private credit group HPS Investment Partners, the Financial Times reported on Wednesday (Nov 27). Read more at The Business Times.

BlackRock Inc. is close to an agreement to buy private credit group HPS Investment Partners, as the world’s largest asset manager tries to compete in the fast-growing alternatives space, the Financial Times reported.