(Bloomberg) — BlackRock Inc . agreed to buy HPS Investment Partners in an all-stock deal valued at about $12 billion, an acquisition that will propel the world's largest asset manager into the top tier of private credit. HPS founders Scott Kapnick, Scot French and Michael Patterson will lead a new private finance solutions business unit…

As the new year approaches, now is a good time to review charitable giving trends and predictions for philanthropy in 2025. According to The Growing Power of Giving: A View from Foundation CEO Joe Mrak2024 has seen charitable giving continue to grow, driven by large wealth transfers and favorable market performance. Source Foundation clients are…

Wealthtech consultancy F2 Strategy announced an executive reshuffle this week. Co-founder and CEO Doug Fritz, who has led the firm since its inception in 2016, is transitioning to the role of executive chairman and longtime executive of Orion Ryan Beach has been appointed CEO. In his new role, Fritz will focus his efforts on strategic…

In this in-depth webinar, we will explore the evolving landscape of serving high net worth (HNW) clients in the wealth management industry. Drawing on WMIQ's comprehensive research, we will provide actionable strategies and real-world case studies to help financial advisors improve their service offerings and strengthen client relationships. Join us to discover how to optimize…

(Bloomberg) — President-elect Donald Trump's transition team has interviewed Paul Atkins, a veteran financial regulator and prominent figure in conservative financial circles, as a candidate to lead the U.S. Securities and Exchange Commission. according to people familiar with the matter. Atkins is a leading contender for the job to replace outgoing SEC Chairman Gary Gensler,…

(Bloomberg) — BlackRock Inc . is close to a deal to acquire HPS Investment Partners, an acquisition that would propel the firm into the private credit tier as it seeks to become a major force in alternative assets. A deal could be announced as early as this week and value HPS at $12 billion or…

Procyon Partners, a Shelton, Conn.-based registered investment adviser with approximately $7 billion in client assets, has hired Rich Franchella as senior vice president of business development. Franchella previously served as a recruiting consultant at Baird. Procyon, part of the Dynasty Financial Partners network, created the new position as it ramps up its recruitment of top…

Chicago-based Cresset has sold a small stake to Constellation Wealth Capital. private equity firm founded by former Emigrant Partners CEO Karl Heckenberg late last year to invest in the growing RIA channel. Constellation has invested $150 million, representing less than 10% of Cresset's equity. Cresset Asset Management, which has more than $60 billion in assets…

VI Lenin once said: “There are decades where nothing happens; and there are weeks where decades happen.” The perception of time passing can be subjective, and sometimes life feels uneventful, while other times, it feels like a lot of important events happen within a short period of time. All of this is an apt description…

Alternative asset manager Blackstone announced three appointments and the creation of two new positions. Blackstone veteran Farhad Karim will step into the newly created role of global chief operating officer of Blackstone's private wealth solutions business. In addition, Chris Sullivan is becoming head of sponsor coverage, another new job function. The firm also announced that…