BlackRock More Than Doubles Private Credit Business With HPS Investment Partners Acquisition
The deal to purchase the private credit manager for $12 billion will see BlackRock’s credit assets grow by $148 billion.
Corporate Moves
Wall Street Year-End Bonuses Set to Jump for 1st Time Since 2021
Across roles, most finance professionals will see huge compensation increases this year, per a survey from Johnson Associates.
Global PSSL Establishes Asset Owners Council
The organization aims to promote sustainability, transparency and governance in securities lending.
Arctos Partners in Talks to Buy Stake in NFL’s Buffalo Bills
The sports investor was one of several private equity firms approved earlier this year to buy a stake in a National Football League franchise.
Private Equity Investment in Insurance Surges, While Global Deals Decline in Value
Private investments in insurance are on pace to end the year with their highest total in more than a decade.
Hightower to Take Majority Interest in Investment Consultant and OCIO Provider NEPC
The acquisition would create a parent company with $1.8 trillion in assets under administration.
Eldridge Industries Acquires 10% Interest in Blue Owl GP Fund
The investment firm joins more than 30 other institutional investors in the Blue Owl GP Stakes Fund III.
Ares to Acquire Real Estate Asset Manager GCP International
The deal will double Ares Real Estate’s assets to $96 billion.
Australia’s QIC Makes History With Shopping Mall Sale
The deal marks the first Australian investment by U.S.-based real estate manager Hines.
Apollo Aims to Double AUM by 2029
During the firm’s investor day, CEO Mark Rowan laid out plans to achieve $1.5 trillion in managed assets, which include leaning into demand for private credit and retirement products.
Investment Firms’ AI Adoption Hindered by Lack of Standards, CFA Institute Finds
A recent survey found that investment professionals agree AI standards are needed before they utilize the technology.
Higher Military Outlays Are Boosting Defense Stocks—With More Upside Ahead, Say Strategists
In the US, members of both parties back a boost in Pentagon spending. The consensus is similar for military-related outlays in Japan and Europe.
Meketa to Hold 15th Emerging Manager Conference in October
The event will be among several conferences held in 2024 that focus on emerging and diverse managers.
Value of Pension-Backed M&A Deals Soars to $13.6B in Q2
Despite seven fewer transactions than one year earlier, total deal value rose 158%.
BlackRock to Acquire Alternatives Data Provider Preqin
The $3.2 billion deal is expected to close before the end of the year.