Bloomberg Intelligence BI Weekend: BlackRock Buys HPS, Salesforce Surge
8 snips
Dec 6, 2024 BlackRock makes waves with its $12 billion acquisition of HPS, solidifying its foothold in private credit. Meanwhile, U.S. natural gas shows promising potential amidst political influences and a complex energy transition. Salesforce's earnings shine, showcasing advancements in AI chatbots that revolutionize customer service. The auto industry faces upheaval with Stellantis's leadership changes and rising competition, highlighting tensions in the shift towards electric vehicles. An independent review of Supermicro hints at a strategic shift as the tech sector adapts.
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BlackRock's Strategic Move into Private Credit
- BlackRock's acquisition of HPS Investment Partners strengthens its position in private credit and alternatives.
- This move reflects BlackRock's focus on high-growth, high-fee areas within asset management.
Private Equity's Expansion into Asset Management
- Large private equity firms like Blackstone are diversifying into broader asset management.
- This shift is driven by investor demand for longer-duration assets and private market investments.
U.S. LNG Export Capacity Growth
- The U.S. is the world's largest LNG exporter, with new capacity coming online soon.
- This growth is expected regardless of political changes, driven by planned expansions.