(Reuters) - Asset management giant BlackRock ( BLK ) is in advanced talks to acquire private credit firm HPS Investment Partners, positioning itself as the sole active bidder, Bloomberg News reported on Tuesday, citing people with knowledge of the discussions.

The parties are seeking to reach an agreement by the end of this year, the report said, adding that HPS may still pursue an initial public offering or a minority stake sale if the parties cannot reach an agreement on valuation.