Blackrock to buy Ardonagh-backer HPS in $12bn deal
Global investment management company Blackrock has signed up to buy long-standing Ardonagh backer HPS Investment Partners in a $12bn (£9.43bn) deal.
HPS currently has $148bn of assets under management and Blackrock has $11.5trn. As part of the transaction Scot French, non-executive director of Ardonagh, and other HPS colleagues will join Blackrock’s global executive committee.
According to the buyer, the takeover is designed to “deliver integrated solutions across public and private markets”.
The deal, to be paid in shares of US-listed Blackrock, is expected to close in the middle of next year. It has no impact on the day-to-day running of
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