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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.
Joele Frank represents Confluent Inc. as the Mountain View, CA-based data streaming platform company agrees to be acquired by IBM in a deal with an enterprise value of $11B.
Tom Johnson, who has headed H/Advisors Abernathy since 2016, will join FGS Global as global head of private capital & financial services, effective Dec. 16.
Brunswick Group and Gagnier Communications are handling Paramount’s $30 cash per-share offer for all of Warner Bros Discovery, topping Netflix $27.50 cash/stock transaction.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
C Street Advisory Group handles strategic communications duties for American Signature Inc. as the Columbus-based home furnishings retailer declares Chapter 11.
