BlackRock Makes $12 Billion Power Move - Agrees To Acquire HPS To Bolster Private Credit Offerings
BlackRock Makes $12 Billion Power Move - Agrees To Acquire HPS To Bolster Private Credit Offerings
About 25% (2.9 million SubCo Units) will be deferred for five years, contingent on post-closing conditions. Additionally, up to 1.6 million SubCo Units may be earned based on financial performance milestones. The total deal could result in the issuance of approximately 13.7 million BlackRock shares.BlackRock, Inc. (NYSE:BLK) shares are trading higher today. The company disclosed a definitive agreement to acquire HPS Investment Partners for around $12 billion.
貝萊德公司（紐交所：BLK）的股票今天上漲。該公司披露了一項收購HPS投資夥伴的最終協議，價值約120億。
The acquisition will be fully paid in BlackRock equity, issued as "SubCo Units" by a wholly-owned subsidiary of BlackRock, exchangeable one-for-one into BlackRock common stock.
此次收購將完全通過貝萊德的股票支付，由貝萊德的全資子公司發行爲「SubCo單位」，可以以一對一的方式兌換爲貝萊德普通股。
A portion of the consideration will be paid at closing, with approximately 9.2 million SubCo Units paid at the same time.
部分對價將在交易完成時支付，大約920萬SubCo單位將同時支付。
About 25% (2.9 million SubCo Units) will be deferred for five years, contingent on post-closing conditions. Additionally, up to 1.6 million SubCo Units may be earned based on financial performance milestones. The total deal could result in the issuance of approximately 13.7 million BlackRock shares.
約25%（290萬SubCo單位）將被延遲五年支付，具體取決於交易完成後的條件。此外，基於財務表現里程碑，最多可獲得160萬SubCo單位。整個交易可能導致大約1370萬貝萊德股票的發行。
The acquisition will integrate BlackRock's extensive corporate and asset owner relationships with HPS's expertise in diversified origination and capital flexibility. This transaction strengthens BlackRock's offerings for insurance clients.
此次收購將貝萊德廣泛的企業和資產所有者關係與HPS在多樣化原始來源和資本靈活性方面的專業知識結合起來。這項交易增強了貝萊德對保險客戶的服務能力。
Together, the combined private credit franchise with ~$220 billion in client assets and BlackRock's $3 trillion public fixed-income business will offer clients comprehensive public and private income solutions across their entire portfolios.
合併後的私人信貸業務擁有約2200億客戶資產，結合貝萊德的3萬億公共固定收益業務，將爲客戶提供全面的公共和私人收入解決方案，覆蓋其整個投資組合。
The combined platform will offer end-to-end capabilities in credit solutions, asset-based finance, real estate, private placements, and CLOs.
合併平台將提供信用解決方案、資產基礎融資、房地產業、私人配售和CLO的端到端能力。
The acquisition positions BlackRock as a full-service, fiduciary provider of public and private asset management and technology solutions for the insurance sector.
此次收購使貝萊德成爲公共和私人資產管理及科技解決方案的全方位受託人。
As part of the transaction, BlackRock plans to retire or refinance approximately $400 million of existing HPS debt. The deal is not expected to significantly impact BlackRock's leverage profile.
作爲交易的一部分，貝萊德計劃償還或再融資大約40000萬美元的現有HPS債務。這筆交易預計不會對貝萊德的槓桿狀況產生重大影響。
The company expects to increase private markets fee-paying AUM and management fees by 40% and 35%, respectively, and be modestly accretive to BlackRock's as-adjusted earnings per share in the first full year post-close.
該公司預計將增加私人市場收費的管理資產（AUm）和管理費用，分別增長40%和35%，並將在交易完成後的第一年對貝萊德調整後的每股收益產生適度的促進作用。
The transaction is expected to close in mid-2025, subject to regulatory approvals and customary closing conditions. Notably, BlackRock projects the private debt market to surpass $4.5 trillion by 2030.
這筆交易預計在2025年中期完成，需經監管批准和慣例關閉條件。值得注意的是，貝萊德預計私人債務市場到2030年將超過4.5萬億美元。
Laurence D. Fink, BlackRock Chairman and CEO, said, "With GIP, and now HPS, we are expanding our private markets capabilities across our comprehensive global platform. Our Aladdin technology, including eFront, and soon Preqin, will make access to private markets simpler and more transparent. These capabilities, together with our global reach, deep relationships, and powerful technology, differentiate our ability to serve clients."
貝萊德董事長兼首席執行官勞倫斯·D·芬克表示："通過GIP，現在又有HPS，我們正在全面擴展我們的私人市場能力。我們的Aladdin科技，包括eFront和即將上線的Preqin，將使進入私人市場變得更簡單、更透明。這些能力，加上我們的全球覆蓋、深厚關係和強大科技，使我們在服務客戶方面具有差異化優勢。"
As of the third-quarter end, BlackRock's total AUM stood at $11.5 trillion.
截至第三季度末，貝萊德的總管理資產（AUm）爲11.5萬億。
Investors can gain exposure to the stock via Fidelity Disruptive Finance ETF (NASDAQ:FDFF) and Capitol Series Trust The Nightview Fund NITE (NYSE:NITE).
投資者可以通過富達顛覆性金融ETF（納斯達克:FDFF）和國會系列信託夜景基金NITE（紐交所:NITE）來獲得該股的曝光。
Price Action: BLK shares are up 1.04% at $1,030.72 at the last check Tuesday.
價格走勢：在最後檢查的週二，貝萊德股票上漲1.04%，報1030.72美元。
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Photo via Shutterstock.
圖片來自shutterstock。
