BlackRock (NYSE: BLK), a global leader in credit asset management, and Kreos Capital, a leading provider of growth and venture debt financing, have announced an impending agreement for BlackRock's complete acquisition of Kreos. Adding Kreos to BlackRock's portfolio bolsters its position in global credit asset management and furthers its ambition to deliver a broad spectrum of private market investment products and solutions. The acquisition allows BlackRock to further expand its private debt capabilities, offering clients broader access to the risk/return spectrum.
Since its establishment in 1998, Kreos Capital has committed over €5.2 billion across more than 750 transactions in 19 countries. The firm has backed over 550 high-growth companies in technology and healthcare, spanning various sub-sectors such as Fintech, Cybersecurity, AI, and Drug Development.
Kreos, based in London, has a 45-person team that will transition to BlackRock as part of the deal.
The transaction, pending regulatory and closing conditions, is set to close in Q3 2023. The financial impact of the transaction will not significantly affect BlackRock's earnings.
Moelis & Company served as Kreos Capital's exclusive financial adviser, while legal advice was provided by Goodwin Procter London and Skadden, Arps, Slate, Meagher & Flom for BlackRock.
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