07:47 AM EDT, 07/07/2025 (MT Newswires) -- BlackRock ( BLK ) said Monday it has signed a definitive agreement to acquire ElmTree Funds, a net-lease real estate investment firm with $7.3 billion in total assets under management.

The upfront payment will be primarily in stock, with potential additional consideration tied to ElmTree's performance over the next five years, Blackrock ( BLK ) said. Other financial details were not disclosed.

ElmTree will be integrated into Private Financing Solutions, the platform formed through BlackRock's ( BLK ) recent acquisition of HPS Investment Partners, the company said.