Cathie Wood is reportedly worth hundreds of millions of dollars. The chief executive officer of Ark Invest didn't get there overnight. Wood is known for making bold investments, often buying high-growth stocks that she thinks can be multibaggers by disrupting huge markets in tech. One asset class Wood has not shied away from is cryptocurrency. On numerous occasions, Wood has predicted that Bitcoin (BTC 0.10%), the world's largest cryptocurrency, will eventually be worth many multiples of what it is today. W ...

BlackRock’s (BLK) shares are in the spotlight as the company continues expanding its presence in the lucrative private markets through acquisitions. On Wednesday, the stock touched its all-time high of $1,082.45. This year, BLK stock has gained 31.3%. In the same timeframe, the Zacks Investment Management industry and the S&P 500 Index have rallied 51.8% and 28.6%, respectively.Year-to-Date Price Performance Image Source: Zacks Investment ResearchAcquisitions Driving BlackRock’s Private Markets PushBlackRoc ...

The BlackRock logo appears on the screen of a smartphone in Reno, United States, on December 10, ... [+] 2024. (Photo Illustration by Jaque Silva/NurPhoto via Getty Images)NurPhoto via Getty ImagesBlackRock’s stock (NYSE: BLK) has gained roughly 32% year-to-date, as compared to the 28% rise in the S&P500 index over the same period. In comparison, BlackRock’s peer State Street’s stock (NYSE: STT) is up 31% year-to-date.The performance of BlackRock stock over the last few years has been mixed. Returns for the ...

BlackRock, Inc. (NYSE:BLK) Goldman Sachs 2024 U.S. Financial Services Conference December 10, 2024 2:20 PM ET Company Participants Martin S. Small - Chief Financial Officer Conference Call Participants Alex Blostein - Goldman Sachs Alex Blostein So we'll get started in the interest of time. Thank you, everybody. Good afternoon. Thanks for joining us. It is my pleasure to introduce Martin Small, CFO of BlackRock, the largest global asset manager with over $11 trillion in Assets Under Management. BlackRock ha ...

U.S. stocks could open on a weak note on Thursday after the averages closed at a record high on Wednesday. Futures of all three major indices were marginally down on Thursday, pointing to cautious sentiment on Wall Street.The tentativeness in U.S. futures comes after Federal Reserve chair Jerome Powell tried to downplay expectations of swift rate cuts, citing a strong economy and uncertainty about inflation."The labor market is better, and the downside risks appear to be less in the labor market. Growth is ...

BlackRock Inc. (BLK) has announced a definitive agreement to acquire HPS Investment Partners for $12 billion in an all-equity transaction. The move signals the company’s deeper foray into the private credit market, which is rapidly emerging as one of the most lucrative sectors in global finance.Private credit, or non-bank lending to businesses, has grown exponentially in recent years as stricter banking regulations limit traditional lenders’ ability to finance riskier loans. Institutions like HPS Investment ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

Key TakeawaysBlackRock is acquiring HPS Investment Partners in a deal valued at roughly $12 billion.The move to buy HPS is the asset management giant's latest push into the growing world of private credit.The nearly $150 billion managed by HPS will bring BlackRock's managed "alternative assets" to about $600 billion, the Wall Street Journal reported. BlackRock (BLK) has agreed to acquire private credit firm HPS Investment Partners in a deal valuing the company at about $12 billion, as BlackRock continues it ...

Core Viewpoint - BlackRock is acquiring HPS Investment Partners for $12 billion in stock to enhance its presence in the private credit market, which is currently experiencing significant growth [1][3]. Group 1: Acquisition Details - The acquisition is expected to close in mid-2025 and will create an integrated private credit franchise with approximately $220 billion in assets [3]. - HPS manages about $148 billion in assets, while BlackRock oversees $11.5 trillion as of the third quarter [3]. Group 2: Market Context - The private credit space is booming, with comparable publicly traded companies like Blue Owl Capital and Ares seeing stock price increases of 54.6% and 46% respectively for 2024, outpacing BlackRock's year-to-date gain of 25.7% [3]. - The deal is part of BlackRock's strategy to grow its alternative assets business, following previous acquisitions of Global Infrastructure Partners and Preqin for $12.5 billion and $3.2 billion respectively [4]. Group 3: Financial Impact - The transaction is expected to increase BlackRock's private market assets under management (AUM) by 40% and management fees by approximately 35% [4].

Advertisement BlackRock is nearing a deal to buy private credit firm HPS Investment Partners.HPS would be another major private markets deal for the $11.5 trillion money manager.BlackRock, known for its ETFs, is hoping a shift to private markets will drive growth.Larry Fink is looking to close 2024 as he started it — by announcing a big acquisition that brings BlackRock closer to dominating private market investing.BlackRock, the $11.5 trillion asset manager, is reportedly nearing a deal to buy HPS Investm ...