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Prosek Partners handles HPS Investment Partners as the global credit investment manager is acquired by BlackRock for $12B.
The Wall Street Journal reports the deal provides BlackRock “a significant foothold in what is now one of the hottest markets on Wall Street.”
HPS’ business of lending directly to companies (and collecting lucrative fees) has boomed as banks have pulled back from making risky loans.
Scott Kapnick, HPS CEO, said the deal marks an important milestone in the drive to become the world‘s leading provider of private financing solutions.
“The combination of HPS’s proven culture of investment discipline with BlackRock’s global reach will allow us to seize new opportunities for our investors and employees and set us up for continued success for the next decade and beyond,” he said.
Founded in 2007, HPS manages $148B in client assets.
Prosek Partners’ Mike Geller and Josh Clarkson represent HPS.
Longacre Square Partners represents Ancora Holdings as it urges the board of Big Yellow Group to conduct a strategic review of the UK’s No. 1 self-storage company.
Kekst CNC handles Getty Images as it begins a prepackaged Chapter 11 reorganization and receives a commitment from Koch Equity Development and the Getty family to invest $533M in the visual content company.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
Teneo handles True Food Kitchen as the Scottsdale, AZ-based wellness food restaurant chain that counts Oprah Winfrey as a minority investor files for Chapter 11.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
