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,

(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, is reportedly on the cusp of a deal to acquire HPS Investment Partners for more than $12 billion