BlackRock Inc. has announced the completion of its acquisition of Kreos Capital, a company that provides growth and venture debt financing to businesses in the technology and healthcare sectors.
The acquisition aligns with BlackRock’s strategic goal of expanding its private market investment products and solutions for clients, said the asset manager.
The 45-person team based in London at Kreos will integrate into BlackRock’s European private debt platform starting on August 7th.
The existing Kreos leadership will retain responsibility for executing current investment strategies.
The transaction is not expected to have a significant effect on its own earnings, said BlackRock.
Stephan Caron, head of EMEA private debt at BlackRock, said, “Having pioneered private debt solutions for high-growth technology and healthcare companies in Europe, Kreos has an excellent track record of strong performance through multiple market cycles and brings market-leading risk frameworks and robust underwriting processes to the table for clients.”
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