The latest transaction comes on the heels of a series of tie-ups in the alternative asset management sector, particularly involving firms specializing in private credit
June 8 (Preqin News) – BlackRock has announced it will acquire growth and venture debt financing provider Kreos Capital, bolstering its private credit capabilities and adding to the recent wave of consolidation in the alternative asset management space.
BlackRock said Thursday that it will acquire full control of London-based Kreos, which specializes in providing financing to technology and healthcare firms. The company’s 45-strong team will join BlackRock’s European Private Debt operation under the deal, which is expected to close in Q3 this year.
Founded in 1998, Kreos has committed in excess of €5.2bn through more than 750 transactions in 19 countries, according to a statement announcing the deal.
The latest transaction comes on the heels of a series of tie-ups in the alternative asset management sector, particularly involving firms specializing in private credit. Market participants see increased opportunities in this segment following recent upheaval and increased reticence in parts of the traditional banking sector.
TPG announced in May that it will acquire Angelo Gordon, a New York-headquartered firm that focuses on credit and real estate. In the same month, New York-listed insurance and investment group Prudential Financial said that it had acquired a majority interest in private debt fund manager Deerpath Capital.