AsainFin -- BlackRock Inc. halted fundraising earlier this year for its latest Asia-focused private credit strategy as it completed its acquisition of HPS Investment Partners, sources familiar with the matter said, introducing uncertainty around the firm’s growth plans in the region.
The firm’s third Asia-Pacific private credit fund saw fundraising stall in early 2025 following BlackRock’s December announcement that it would acquire HPS, a specialized private credit manager, the sources added. The New York-based asset manager finalized the HPS deal on July 1, marking a major expansion of its private credit capabilities.
The pause in fundraising underscores the complexities BlackRock faces in integrating HPS while pursuing growth in the Asia-Pacific private credit market, where investor appetite has been evolving amid rising interest rates and regulatory scrutiny.
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