BlackRock (BLK) announced that it has entered into a definitive agreement to acquire ElmTree Funds. Upfront consideration will be paid primarily in stock, with the potential for additional consideration subject to ElmTree performance over the next five years. Additional financial details were not disclosed. Upon closing, ElmTree will be integrated into Private Financing Solutions, the new platform created through BlackRock’s combination with HPS Investment Partners, a part of BlackRock. The transaction is expected to close in the third quarter of 2025 subject to regulatory approvals and customary closing conditions.
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