BlackRock Acquires ElmTree Funds

BlackRock Acquires HPS Investment Partners

July 1, 2025

Financial Services

BlackRock has completed its acquisition of HPS Investment Partners and is creating a combined Private Financing Solutions (PFS) platform that integrates BlackRock’s public fixed income capabilities with HPS’s private credit, GP/LP, and CLO businesses. The combined PFS franchise will manage approximately $190 billion in client assets for private credit and maintain HPS branding as “HPS, a part of BlackRock,” with HPS CEO Scott Kapnick joining as an observer to the BlackRock board.

Tocqueville Asset Management Adds Poplar Forest Capital Team

February 21, 2025

Financial Services

Tocqueville Asset Management announced that the advisory team from Poplar Forest Capital (managing ~$1.3 billion in assets) will join Tocqueville, with Poplar Forest founder Dale Harvey becoming a shareholder and member of Tocqueville's management committee. Financial terms were not disclosed; the move is intended to expand Tocqueville's research and investment capabilities by integrating the Poplar Forest team's value-oriented asset management expertise.

Oaktree Funds Acquire Electro-Mechanical LLC from Graycliff Partners

March 1, 2024

Manufacturing

Funds managed by Oaktree Capital Management, L.P. have acquired Electro-Mechanical LLC from Graycliff Partners LP. Graycliff had partnered with the family-owned business in 2021 and helped expand EMC's footprint and capabilities; Oaktree will back the company's next phase of growth in power distribution and power-quality equipment manufacturing and services.

Blackstone Acquires PS Business Parks for $7.6 Billion

July 20, 2022

Real Estate

Affiliates of Blackstone Real Estate completed the acquisition of all outstanding shares of PS Business Parks, Inc. for $187.50 per share in an all-cash transaction valued at approximately $7.6 billion. The deal brings PSB's portfolio—93 properties serving ~4,800 tenants across ~27 million square feet (plus ~800 residential units)—into Blackstone's real estate platform (operated via Link Logistics), expanding its industrial/industrial-flex and suburban office footprint.

Blackstone and Vista Equity Partners Acquire Ellucian

September 15, 2021

Software

Private equity funds managed by Blackstone and Vista Equity Partners have completed the acquisition of Ellucian from TPG Capital and Leonard Green & Partners. The long-term investment will support Ellucian's cloud and SaaS expansion, accelerate digital transformation capabilities for higher education customers, and fund international growth.

Oaktree Acquires Majority Interest in 17Capital

July 19, 2022

Financial Services

Oaktree has completed the acquisition of a majority interest in 17Capital, a London-based specialist provider of non-dilutive capital and NAV finance solutions to private equity managers and institutional investors. The deal creates a strategic partnership intended to expand 17Capital's access to Oaktree's global network while adding complementary private capital solutions to Oaktree's product set.