BlackRock in Advanced Talks to Buy Private-Credit Firm HPS

What You Need To Know

• The deal would leave BlackRock, which managed $11.5 trillion as of Sept. 30, with more than $500 billion in alternative assets.
• BlackRock wants to replicate its dominant scale in stock and bond markets in private assets, which are increasingly sought by wealthy retail clients.
• The company recently completed a $12.5 billion acquisition of Global Infrastructure Partners.