BlackRock Acquires HPS Investment Partners

HPS Investment Partners and Capital One Take Control of Discovery Behavioral Health via Debt-for-Equity

June 2, 2026

Healthcare Services

Discovery Behavioral Health (DBH) entered a major restructuring after defaulting on roughly $280 million of debt, following a dispute over its debt-to-earnings calculations. Lenders led by HPS Investment Partners and Capital One seized control, ousting the board and CEO and effectively converting debt into ownership, with a new CEO (Pete Clarke) introduced in the subsequent announcement.

HLM Leads $16M Growth Investment in HPS/PayMedix; $33M Financing Raised

January 13, 2026

Healthcare Services

HPS/PayMedix closed $33 million of equity and debt financing to accelerate national growth of its healthcare financing and payments platform. The round was led by HLM Investment Partners ($16M growth equity) and included Escalate Capital Partners (providing a $17M term debt facility), RVM Enterprises, and existing investor SV Health Investors.

BlackRock Acquires HPS Investment Partners

October 14, 2025

Financial Services

BlackRock completed the acquisition of HPS Investment Partners in a transaction reported at about $12 billion, expanding BlackRock’s private credit and alternative asset capabilities. The deal brings HPS’s sizable private markets platform (reported as roughly $157–165 billion of AUM in sources) into BlackRock’s platform and bolsters its private markets and private credit scale.

HPS Investment Partners Acquires Majority Stake in SGS & Co

May 1, 2023

Marketing & Advertising

HPS Investment Partners has completed a transaction to acquire a majority equity stake in SGS & Co, a global provider of technology-enabled brand design, digital marketing, and packaging artwork services. The deal restructures SGS's capital structure with substantial debt reduction and positions the company to accelerate investments in technology, automation, and service expansion.

Affiliates of Blackstone Real Estate Acquire PS Business Parks for $7.6 Billion

July 20, 2022

Real Estate

Affiliates of Blackstone Real Estate entered into a definitive all-cash agreement to acquire PS Business Parks, Inc. for $187.50 per share, valuing the transaction at approximately $7.6 billion. The deal covers PS Business Parks’ commercial portfolio (industrial, business park, office, and multifamily) primarily located in California, Miami, Texas, and Northern Virginia, with an expected closing in the third quarter of 2022.

Funds Managed by HPS Acquire Marlin Business Services Corp.

January 20, 2022

Financial Services

Funds managed by affiliates of HPS Investment Partners LLC completed the acquisition of Marlin Business Services Corp. on January 20, 2022 for $23.50 per share in an all-cash transaction. Marlin becomes a wholly owned subsidiary and will be integrated into HPS's Global Leasing Platforms (including PEAC UK and PEAC Europe) to expand equipment financing capabilities and market reach for small-business customers and dealer partners.