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☆ Why Goldman Sachs is optimistic about retail consumer growth in 2025
▼ + stars: | 2024-12-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Goldman Sachs is optimistic about retail consumer growth in 2025Brooke Roach, analyst at Goldman Sachs, joins CNBC's 'The Exchange' to discuss Goldman's retail winners and losers, which companies could be at tariff risk under president-elect Trump, and more.

Persons: Goldman Sachs, Brooke Roach, Trump

☆ Uber is a top pick heading into 2025 with more than 50% upside, Goldman Sachs says
▼ + stars: | 2024-12-13 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Goldman Sachs thinks Uber's risk-to-reward balance is among the most attractive heading into 2025. The bank listed the ride sharing company as a top pick in a Thursday note. Analyst Eric Sheridan has a buy rating and a $96 per share price target on the stock, which implies more than 56% upside from Thursday's close. UBER YTD mountain Uber stock. The average analyst price target also implies upside of 47%.

Persons: Goldman Sachs, Eric Sheridan, Sheridan, Uber Organizations: CART

☆ Here are the deals the 'AI arms race' could drive in 2025, according to 4 bankers from Goldman Sachs, BofA, and Axom Partners
▼ + stars: | 2024-12-13 | by ( Bianca Chan | ) www.businessinsider.com time to read: +7 min

Bankers anticipate more AI dealmaking to benefit data and infrastructure companies. Tech companies focusing on managing, moving, and securing data will be at the forefront of the AI M&A wave. The gap between buyer and seller price expectations is shrinking as companies, AI ones included, reset their valuations. It's something even the biggest AI companies are opening their wallets for. Some cross-sector actionWhile most of the AI and AI-related deals will likely be between tech companies, Goldman's Min anticipates some transactions in the industrial space.

Persons: Goldman Sachs, Neil Kell, Brandon Hightower, hasn't, Scott Denne, Trump's, Andrew Ferguson, Ferguson, Jung Min, America's Kell, Min, Axom's Hightower, Axom, Rockset, Alan Bressers, you've, It's, There's, Axom's Bressers Organizations: Bankers, Bank of America, Partners, Bank of, Companies, Axom Partners, Tech, P Global Market Intelligence, Research, Federal Trade Commission, Big Tech, Wedbush Securities, Bank, Nvidia, Lambda Locations: Snowflake, Seattle

☆ Here's where the stock market is headed in 2025, according to Wall Street's top strategists
▼ + stars: | 2024-12-13 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

The S & P 500 is expected to end next year at 6,630, according to the average forecast from the CNBC Market Strategist Survey released Friday. On a median basis, the S & P 500 is expected to end 2025 at 6,600, the survey found, also a 9% gain. The S & P 500 surged 27% in 2024 after climbing 24% in 2023. Last year, strategists, on average, expected the S & P 500 would end 2024 at 5,705, which the index first surpassed in September. Elsewhere, Goldman Sachs' David Kostin expects the S & P 500 to end next year at 6,500 , as does Morgan Stanley's Mike Wilson .

Persons: John Stoltzfus, Oppenheimer, Jonathan Golub, Tom Lee, Lee, Oppenheimer's John Stoltzfus, Donald Trump's, Binky Chadha, Chadha, Oppenheimer's Stoltzfus, Stoltzfus, Trump, Citigroup's Scott Chronert, Savita Subramanian, Subramanian, Goldman Sachs, David Kostin, Morgan Stanley's Mike Wilson, Brian Belski Organizations: CNBC Market, UBS, Fundstrat Global Advisors, Deutsche Bank Securities, CNBC, Deutsche, Bank of America Securities, BMO Locations: Thursday's, today's, buybacks, Mexico, Canada

☆ Goldman Sachs to continue to scale tokenization efforts, says Mathew McDermott
▼ + stars: | 2024-12-13 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoldman Sachs to continue to scale tokenization efforts, says Mathew McDermottMathew McDermott, Goldman Sachs global head of digital assets, joins CNBC Crypto World's MacKenzie Sigalos to react to institutional adoption of crypto products, and to discuss the status of some of the company's tokenization efforts.

Persons: Goldman Sachs, Mathew McDermott Mathew McDermott, CNBC Crypto World's MacKenzie Sigalos Organizations: CNBC

☆ CEOs and companies are breaking out their wallets for Trump, from Sam Altman to Jeff Bezos and Mark Zuckerberg
▼ + stars: | 2024-12-13 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

OpenAI CEO Sam Altman was the latest to give $1 million to Trump's inaugural fund. Tech leaders are angling to get or stay in his good graces and help shape his administration's tech policy. The president-elect is receiving donations to his inaugural fund from the likes of Mark Zuckerberg through Meta, Jeff Bezos through Amazon, and OpenAI CEO Sam Altman. AdvertisementMeta confirmed to BI earlier this week that it's donating $1 million to Trump's inaugural fund. Spencer Platt/Getty ImagesZuckerberg and Trump shared dinner at Mar-a-Lago last month months after Trump had threatened to imprison Zuckerberg if re-elected.

Persons: Donald Trump, Sam Altman, Donald Trump's, Mark Zuckerberg, Jeff Bezos, Meta, it's, OpenAI's Altman, Altman, OpenAI, Trump, —, Sundar Pichai, Spencer Platt, Zuckerberg, Nick Clegg, Bill Ackman, Jane Fraser, Brian Cornell, Michael Miebach, Goldman Sachs, David Solomon, Hans Vestberg Organizations: Tech, Meta, Amazon, Financial, Fox News, Trump, White House, Big Tech, CNBC, Google, Justice Department, Chrome, New York Stock Exchange, Getty, Mar, Lago, Pershing, Citigroup, Mastercard, Verizon Locations: Mar

☆ Oil edges lower on 2025 supply surplus forecast, but set to notch weekly gain
▼ + stars: | 2024-12-13 | by ( ) www.cnbc.com time to read: +2 min

Oil prices inched lower on Friday as investors focused on a forecast of ample supply and shrugged off expectations of higher demand next year from Chinese stimulus measures, while eyeing another Federal Reserve interest rate cut next week. Supply is expected to exceed demand growth forecast of 1.1 million bpd, IEA said in its monthly oil market report, raising its demand forecast from 990,000 bpd last month. Three of Canada's biggest oil producers forecast higher production in 2025. Building on record production in the U.S., Goldman Sachs expects Lower 48 shale oil production to grow by 600,000 bpd in 2025 although the growth could slow if Brent falls below $70 a barrel. Chinese crude imports grew annually for the first time in seven months in November, driven by lower prices and stockpiling.

Persons: Warren Patterson, ING's, Goldman Sachs, Brent, WTI, ING's Patterson Organizations: Union Pacific, Brent, West Texas, International Energy Agency Locations: Salt Lake City , Utah, OPEC, United States, Canada, Guyana, Brazil, Argentina, U.S, Russia, Iran, Saudi Arabia, China, India

☆ Here are the 5 new additions to 'Dogs of the Dow' as 2025 approaches
▼ + stars: | 2024-12-12 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

The "Dogs of the Dow" — a strategy popularized by investor Michael O'Higgins in the early 1990s — comprises of the 10 members of the Dow Jones Industrial Average with the highest dividend yields. By buying these names, investors bet on receiving a steady steam of cash payouts, in addition to their stock prices appreciating. These stocks also tend to be of higher quality given their inclusion in the 30-stock Dow. "The idea here is that just because they're 'Dogs of the Dow' — some of them really are dogs — and you have to be careful and selective as a stock picker," he told CNBC in an interview. Similarly, had Nvidia not replaced Intel in the blue-chip index last month, Intel would have also made 2025's "Dogs of the Dow" list, Simpson added.

Persons: Michael O'Higgins, Kevin Simpson, Simpson, Gamble, Dow —, Dow Jones, Sherwin, Williams, Goldman Sachs, —, Jesse Pound Organizations: Dow Jones, Dow, Verizon Communications, Chevron, Business Machines, Cisco Systems, Wealth, CNBC, McDonald's, Procter, Gamble, Verizon, Walgreens Boots Alliance, Walgreens, Amazon, Dow Inc, Nvidia, Intel, IBM Locations: Amgen

☆ CNBC Daily Open: Alphabet and Tesla power Nasdaq to record highs
▼ + stars: | 2024-12-12 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Michael Nagle | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The reading clears the way for the Fed to cut rates, which is likely to send tech shares higher. Irwin increased his price target to $380 from $85, noting in a report that "Musk's authentic support for Trump likely doubled Tesla's pool of enthusiasts and lifted credibility for a demand inflection." On Wednesday, analysts at Goldman Sachs boosted their price target on Tesla, joining bullish reports from firms like Morgan Stanley and Bank of America.

Persons: Michael Nagle, Donald Trump's, Tesla, Elon Musk, Vivek Ramaswamy, Trump, Craig Irwin, Roth MKM, CNBC's, Irwin, Goldman Sachs, Morgan Stanley, — CNBC's Lora Kolodny, Ari Levy Organizations: Nasdaq, Bloomberg, Getty, CNBC, Tech, Amazon, Fed, Trump administration's Department, Government, Trump, Goldman, Bank of America Locations: New York

☆ Trump antitrust appointments to unleash M&A 'animal spirits', says Morgan Stanley
▼ + stars: | 2024-12-12 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

President-elect Donald Trump 's picks for top regulators may not lead to a total free-for-all of corporate dealmaking, but they should be more than enough to unleash the pent-up demand for mergers and acquisitions, according to Morgan Stanley. "New Trump appointments at FTC and DOJ likely come with a more traditional, lighter touch antitrust framework. This should drive up animal spirits and improve corporate clarity in an M & A environment where market conditions are already supportive for activity," Kenny said. Clarity could be a key buzzword in the coming months, as some of the antitrust actions brought under current FTC Chair Lina Khan were novel and scared off other potential deals, Kenny said. Those companies should get a piece of the M & A action, regardless of what sector sees the most activity.

Persons: Donald Trump, Morgan Stanley, Ryan Kenny, Trump, Andrew Ferguson, Gail Slater, Biden, Kenny, Lina Khan, Ferguson, Kenny's, Goldman Sachs Organizations: Federal Trade Commission, Wall, Trump, FTC, DOJ, Big Tech

☆ ECB to cut rates and signal further to come, Goldman Sachs says
▼ + stars: | 2024-12-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB to cut rates and signal further to come, Goldman Sachs saysJari Stehn, chief European economist at Goldman Sachs, weighs in on the European Central Bank's final rate decision of 2024 and the growth outlook for next year.

Persons: Goldman Sachs, Jari Stehn Organizations: ECB, Central

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Coca-Cola, McDonald's, Palantir & more
▼ + stars: | 2024-12-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Here are Thursday's biggest calls on Wall Street: UBS upgrades Diageo to buy from neutral UBS said it sees brand momentum for the beverage company. JPMorgan upgrades Brookfield Renewables to overweight from neutral JPMorgan said it's bullish on shares of the renewables company. Wells Fargo reiterates McDonald's as overweight The firm said it's a top idea heading into the holidays and 2025. " Bank of America upgrades Constellation Energy to buy from neutral The firm said shares of the energy company are "compelling." Goldman Sachs reiterates AT & T as buy The firm said the telecom company is a top idea in 2025.

Persons: Don Julio, Goldman Sachs, Nucor, Bernstein, Apple, it's, Morgan, Wells, Blackstone, TD Cowen downgrades Adobe, Cowen, KeyBanc, Mizuho, Morgan Stanley, Roblox, Hershey, it's bullish, Woodward, Goldman, bullish, TD Cowen, Baird, Palantir, Dr Pepper, Disney, Parsons, Jefferies Organizations: UBS, Diageo, Crown, Dynamics, Gulfstream, Apple, JPMorgan, Brookfield Renewables, Brookfield Renewable Partners, Brookfield Renewable Corp, Morgan Stanley, Alcoa, Mobile, Nvidia, Mizuho, MU, DELL, HSBC, Hershey, UW, EW, Citi, American Airlines, Benchmark, Penske, Penske Auto Group, AWS, Adv, Energy, Deutsche Bank, Pepsi, Deutsche, Beverage, Disney, " Bank of America, Inc, Holdings, Constellation Energy, Constellation Energy Group, DoD, Federal Civilian, Emerson Electric, Jazz Pharmaceuticals Locations: Western Australia, Wells Fargo, 1H25, CRDO, Mar

☆ 10-year Treasury yield rises as investors digest inflation data
▼ + stars: | 2024-12-12 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +2 min

ET, the 10-year Treasury yield was up by nearly three basis points to 4.3%. U.S. Treasury yields held steady on Thursday as investors digested the latest inflation reading and awaited further data. Economists polled by Dow Jones are expecting to see a 0.2% increase on a monthly basis. The data comes ahead of the Federal Reserve's final policy meeting next week where rate cut decisions will be made. Currently, traders are pricing in a nearly 99% chance of a quarter-point rate cut, according to the CME FedWatch tool.

Persons: Dow Jones, Dow, Whitney Watson Organizations: Treasury, U.S, Bureau of Labor Statistics, Dow Jones, Federal, Goldman Sachs Asset Management, Fed

☆ India's ReNew Energy offered to be taken private in $2.82 billion deal
▼ + stars: | 2024-12-12 | by ( ) www.cnbc.com time to read: +2 min

Some of the biggest investors in ReNew Energy Global have offered to take the company private, filings to the U.S. Securities And Exchange Commission show, in a deal that values the clean power generator at $2.82 billion, according to Reuters calculations. Major shareholders Canada Pension Plan Investment Board, UAE-based Masdar, ReNew Chairman Sumant Sinha and a unit of the Abu Dhabi Investment Authority have offered to buy shares in India's second largest clean energy generator at $7.07 each. The consortium has collective voting rights of 64% in ReNew, which is India's second biggest renewable energy firm after Adani Green. Shares of ReNew closed 17.7% higher at $7.46 on the Nasdaq on Wednesday, 5.5% above the offer price. Goldman Sachs , one of ReNew's earliest investors, sold its entire stake after the energy company went public in 2021.

Persons: Sumant Sinha, Adani, CreditSights, Masdar, JERA, Goldman Sachs Organizations: Energy Global, U.S . Securities, Exchange, Canada, Plan Investment Board, Abu Dhabi Investment Authority, Nasdaq, SEC, Fitch Group, NASDAQ Locations: UAE, Abu Dhabi, India's, India, U.S, Middle

☆ Private credit firms are hot acquisition targets. As M&A ramps up next year, here are the firms likely to be bought.
▼ + stars: | 2024-12-12 | by ( Michelle Abrego | Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Private credit firms with $30 billion to $70 billion in assets will be the firms to watch. And it's not just the traditional money managers, private equity firms are also using acquisitions to strengthen their private credit capabilities and market presence. McGahan said private credit firms with between $30 billion and $70 billion in assets under management will be the ones to watch. If you're a private equity manager, you're paid with carried interest, or a percentage of profits generated from the firm's investments. He added there are also operational differences and gave the example of a private credit firm using treasury functions daily versus a private equity firm that uses a couple times a month.

Persons: Greg McGahan, PwC, McGahan, Martin Small, Larry Fink, Rob Kapito, Small, You've, you've Organizations: Business, BlackRock, HPS Investment Partners, Goldman Sachs Locations: New York

☆ AI 'godfather' Geoffrey Hinton says AI will one day unite nations against a common existential threat
▼ + stars: | 2024-12-12 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Geoffrey Hinton said that, right now, countries are working in secret to gain an advantage. That will change once AI becomes so intelligent it presents an existential threat, he said. However, this could change once AI becomes advanced enough to pose an existential threat to humanity, AI "godfather" and Nobel Prize winner Geoffrey Hinton says. AdvertisementHinton said this collaboration could resemble the Cold War, when Russia and the United States — despite being enemies — shared a common goal to avoid nuclear war. The United States and China are already beginning to collaborate on existential threats related to AI.

Persons: Geoffrey Hinton, Hinton, they're, —, Sam Altman, Altman, Goldman Sachs, Joe Biden, Xi Jinping Organizations: Royal Swedish Academy of Engineering Sciences, Chinese Communist Party, United, Economic Cooperation Locations: Russia, United States, China, Britain, Israel, Sweden, Asia

☆ Companies that want to go public without a diverse board may still have to get through Goldman Sachs
▼ + stars: | 2024-12-12 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +3 min

A federal court struck down a rule requiring Nasdaq-listed companies to disclose board diversity. Legal experts say the ruling won't likely impact Goldman Sachs' board diversity mandate. Since 2020, the investment bank has only helped take public clients with diverse boards. AdvertisementIn 2020, David Solomon, CEO of Goldman Sachs, a top underwriter of initial public offerings, announced that the bank would start requiring the clients it helps take public to have at least one diverse board member. It has also tasked one of its rising stars with a new role helping corporate clients find diverse board members.

Persons: Goldman Sachs, Wall, David Solomon, Goldman, Ann Lipton, George Floyd, Morgan Stanley, Fortune, Ilana Wolfe Organizations: Nasdaq, Fifth Circuit, Securities, Exchange Commission, Companies, Exchange, SEC, Tulane University's, Bloomberg, Goldman

☆ Trump says he’s not going to make any stock market predictions in case there’s a ‘dip’
▼ + stars: | 2024-12-12 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Trump repeatedly used the stock market as a performance barometer during his first term. "I don't want to get into a situation where they do and we have a dip or something, because that can always happen," Trump told CNBC's Jim Cramer during " Squawk on the Street ." After ringing the opening bell at the New York Stock Exchange on Thursday, President-elect Donald Trump stopped short of telling investors to buy more stock as he gets set to take office. President-elect Donald Trump is greeted by traders, as he walks the floor of the New York Stock Exchange, Thursday, Dec. 12, 2024, in New York. To be sure, while Trump refrained from telling investors to buy stocks now, he maintained a bullish outlook longer term.

Persons: Trump, CNBC's Jim Cramer, Donald Trump, Goldman Sachs, David Solomon, Pershing, Bill Ackman, Ackman, Covid, Yun Li Organizations: Federal, New York Stock Exchange, Street, NYSE, CNBC Locations: New York, USA

☆ Goldman Sachs' McDermott on whether major multinationals would add bitcoin to their balance sheets
▼ + stars: | 2024-12-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoldman Sachs' McDermott on whether major multinationals would add bitcoin to their balance sheetsMathew McDermott, global head of digital assets at Goldman Sachs, joins CNBC's 'The Exchange' to discuss crypto space, whether bitcoin ETFs approval helped the crypto industry, and more.

Persons: Goldman Sachs, McDermott, Mathew McDermott Organizations: Goldman

☆ Trump's cabinet picks are quite friendly to business, growth, says IBM's Gary Cohn
▼ + stars: | 2024-12-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump's cabinet picks are quite friendly to business, growth, says IBM's Gary CohnGary Cohn, IBM vice chairman and former NEC director and Goldman Sachs president, joins 'Money Movers' to discuss the market's optimism following Trump's election victory, the potential negative impact of tariffs, and Cohn's expectations on an extension of the first round of Trump tax cuts.

Persons: Gary Cohn Gary Cohn, Goldman Sachs Organizations: IBM, NEC, Trump

☆ Gold touches two-week peak; U.S. inflation data in focus
▼ + stars: | 2024-12-11 | by ( ) www.cnbc.com time to read: +2 min

Gold prices scaled a two-week peak on Wednesday, supported by escalating geopolitical tensions and expectations of another rate cut by the U.S. Federal Reserve next week, and ahead of the closely watched U.S. inflation report later in the day. Spot gold was up 0.2% at $2,698.47 per ounce, as of 0253 GMT, and hit its highest since Nov. 25. Investors' focus is on the U.S. Consumer Price Index (CPI), which is expected to have risen by 0.3% in November. Gold is considered a safe investment during economic and geopolitical turmoil and tends to thrive in a low-interest-rate environment. Spot silver added 0.1% to $31.93 per ounce, platinum gained 0.5% to $947.55 and palladium rose 0.7% to $975.19.

Persons: Kyle Rodda, Goldman Sachs Organizations: U.S . Federal Reserve, Investors, U.S . Consumer, Index, Reuters, South Korean Locations: Syria, Central

☆ Here’s the Wall Street chatter after the CPI data
▼ + stars: | 2024-12-11 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

It's still all clear for the Federal Reserve next week to cut rates again. The consumer price index in November rose 0.3% month over month and 2.7% year on year, the Bureau of Labor Statistics said Wednesday. Core CPI, which strips out volatile food and energy prices, increased 0.3% from October and 3.3% from the year earlier period. But stock futures traded slightly higher before the bell — as the new data is unlikely to dissuade the Fed from its cutting campaign. But it's unmistakable that the last four months with core up 0.3% month over month is a trend."

Persons: It's, Dow, Josh Hirt, Whitney Watson, Alicia Levine, Peter Boockvar, Skyler Weinand, Regan, Jason Bazinet Organizations: Federal Reserve, of Labor Statistics, CPI, Dow Jones, Vanguard, Federal, Goldman Sachs Asset Management, BNY, Bleakley Financial, Fed, Citi

☆ CNBC Daily Open: Can quantum computing be used in the real world?
▼ + stars: | 2024-12-11 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Alphabet spikes after Google announces 'breakthrough' quantum chip Shares of Google's parent company Alphabet rose 6% on Tuesday, a day after the company hailed its latest quantum computing chip as a "breakthrough." Quantum computing uses quantum bits or qubits which can be zero, one or something in between. Will we see faster laptops, faster smartphones, or can quantum computing be used for artificial intelligence applications? Proponents of quantum computing claim it will be able to solve problems that current computers can't. After all, if there are currently no real world uses for quantum computing, the solution cannot be put to solving problems, let alone commercialized.

Persons: Bernstein, Lifeng, Donald Trump's, Goldman Sachs, Stanley, CNBC's Arjun Kharpal Organizations: CNBC, Trump, Blackrock, Citigroup, Google, Marvel, HAL Locations: China, Beijing

☆ Goldman Sachs says this AI-powered software stock that's up 50% since IPO is poised for more gains
▼ + stars: | 2024-12-11 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Goldman Sachs thinks there are more gains ahead for OneStream . Analyst Adam Hotchkiss initiated coverage finance management software maker with a buy rating and 12-month price target of $37 a share, which suggests 21.5% upside. Still, Hotchkiss sees more gains ahead for OneStream given its revenue growth potential, platform offerings to CFOs, as well as management's ability to drive margin expansion. OneStream is poised see at least 20% compounding growth "for the foreseeable future" as the company grows its consumer base, Hotchkiss said. The average price target also points to 20% upside.

Persons: Goldman Sachs, Adam Hotchkiss, Hotchkiss, OneStream Organizations: OneStream

☆ BlackRock CFO Martin Small outlines the asset management giant's top 3 criteria for every acquisition
▼ + stars: | 2024-12-11 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

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.

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

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