BlackRock Inc. is nearing a deal to buy HPS Investment Partners, a purchase that would vault the firm into the top ranks of private credit as it seeks to become a major force in alternative assets.An agreement could be announced as early as this week and value HPS at $12 billion or more,

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BlackRock, the world’s largest asset manager, is reportedly on the cusp of a deal to acquire HPS Investment Partners for more than $12 billion

The asset management behemoth is continuing its alternatives push with the acquisition reportedly valuing HPS at $12 billion.