Nov 28 (Reuters) - BlackRock ( BLK ) has a handshake

deal to buy private credit group HPS Investment Partners, the

Financial Times reported on Wednesday.

The final deal value would be closer to $12 billion, which

offers a significant premium over HPS's post-IPO valuation of

$10 billion, the report said, citing two sources familiar with

the matter.

The two sides have agreed on the broad outline of the deal

with an eye towards announcing general terms after the U.S.

Thanksgiving holiday, the report added, citing four people

familiar with the matter.

BlackRock ( BLK ) declined to comment and HPS Investment did not

immediately respond to a Reuters request for comment.

HPS Investment Partners is a global investment firm managing

assets across debt, liquid credit including syndicated leveraged

loans, asset-based finance and real estate, according to its

website. It had about $117 billion of assets under management as

of June 2024.

BlackRock ( BLK ), the world's largest asset manager overseeing more

than $10 trillion, is seeking to capitalize on a boom in

investor demand for alternative assets, ranging from private

equity to infrastructure.

Earlier in July, BlackRock ( BLK ) agreed to buy UK-based data firm

Preqin for 2.55 billion pounds ($3.32 billion) in cash.