 |
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.
FTI Consulting’s Alex Miehls has joined Teneo as managing director in its strategy and communications unit.
SKDK and ICR handle Intra-Cellular Therapies as it is getting acquired by Johnson & Johnson for $14.6B.
FGS Global represents Energy Capital Partners, which is selling Calpine Corp. to Constellation Energy Corp. for $16.4B in cash and stock.
Ted McHugh, who was most recently managing director, head of strategic situations and investor relations at Edelman Smithfield, joins advisory and investing platform Consello as senior managing director.
Collected Strategies represents Forward Air Corp. as the Tennessee-based freight forwarding company reviews its strategic options.
Have a comment? Send it to 
No comments have been submitted for this story yet.