2023-06-08 03:40:56 ET
BlackRock ( NYSE: BLK ) will acquire Kreos, a London-based provider of growth and venture debt financing to technology and healthcare companies.
Kreos Capital has committed more than €5.2B across more than 750 transactions in 19 countries, to 550 plus pan-European and Israeli high-growth companies in the tech and healthcare sectors.
Kreos 45-person team will join BlackRock as part of the transaction that has demonstrated strong performance over a 24-year track record.
The acquisition of Kreos adds to BlackRock’s position as a global credit asset manager and provides clients with a diverse range of private market investment products and solutions.
It complements BlackRock’s Global Credit business with a seasoned investment team and successful long-term track record, while the adjacent asset class unlocks additional private debt capabilities for BlackRock’s clients to access a larger proportion of the risk/return spectrum.
The transaction is expected to close in Q3 2023.
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Blackrock acquires London-based Kreos Capital