 |
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.
FGS Global handles Fox Corp. as it agrees to acquire The Roku Channel, which relies on Joele Frank, in a deal valued at $22B.
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
Brunswick Group represents Universal Music Group as it rejects the unsolicited $65B takeover offer by billionaire Ed Ackman's Pershing Square Capital Management because it “fundamentally and materially undervalues” the world’s largest music company.
