In late November, the asset management titan bought private-credit firm HPS for $12 billion. CFO Martin Small explained how the acquisition fits the firm's three requirements. BlackRock is spending top dollar in its quest to dominate private-markets investing, recently agreeing to buy private-credit firm HPS Investment Partners for $12 billion. Topline results"You've got to be a credible operator on a consolidated basis of these businesses," Small said of acquisition targets. Advertisement"We'll now have a $220 billion preform a private credit business at BlackRock so we'll be very scaled in that regard," he said.

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Persons: HPS, Martin Small, It's, BlackRock isn't, Larry Fink, iShares, Small, Fink, Rob Kapito, HPS — Scott Kanick, Mike Patterson, Scot French —, You've, we'll Organizations: BlackRock, HPS Investment Partners, Global Infrastructure Partners, Goldman Sachs Financial, Conference, Tuesday, Barclays, New Locations: New York City, BlackRock