BlackRock will buy private credit firm HPS Investment Partners for about $12 billion in an all-stock deal, the companies said on Tuesday, as the world's largest asset manager seeks to expand in a red-hot market.

BLACKROCK 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. Read more at The Business Times.

BlackRock is buying credit investment manager HPS Investment Partners in a stock deal valued at about $12 billion, giving it more ways to service its insurance clients