History
2024: BlackRock bought HPS for $12 billion
The world's largest investment company BlackRock bought rival HPS for $12 billion. This deal was announced in early December 2024.
BlackRock is going to fully pay for the purchase of HPS with its own shares. By December 2024, HPS manages $148 billion in assets. The company planned an IPO and hoped to raise about $10 billion thanks to the listing, but in the end decided on a deal with BlackRock.
Unlike traditional banks, which use customer deposits to provide loans, HPS issues them with money received from professional investors - insurers, pension funds and wealthy people.[1]
Notes
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