Larry Fink is shelling out about $25 billion in the space of a year to turn BlackRock Inc. into a top-five player in infrastructure and private credit. Now he’s focused on enticing the firm’s newest rainmakers to stay on board.

BlackRock is set to buy HPS Investment Partners, a private credit behemoth managing $145 billion, according to a report.

BlackRock is buying credit investment manager HPS Investment Partners in a stock deal valued at about $12 billion, giving it more ways to service its insurance clients

BlackRock , oddly enough, is looking a lot more like a streaming service. The index-fund goliath agreed to buy private lender HPS for $12 billion, to get its hands on the hottest new content to push through its formidable pipes.

BlackRock Inc., once seen as punching below its weight in private markets, is shedding that stigma as its purchase of HPS Investment Partners makes it a force in the credit industry, Bloomberg's Sridhar Natarajan says on "Bloomberg .