BlackRock Health Sciences Stock Price, News & Analysis

BlackRock (NYSE: BLK) has announced the acquisition of HPS Investment Partners for approximately $12 billion, paid entirely in BlackRock equity. HPS, a global credit investment manager with $148 billion in client assets, will combine with BlackRock to create an integrated private credit franchise managing ~$220 billion. The transaction is expected to increase private markets fee-paying AUM and management fees by 40% and ~35%, respectively. The deal, expected to close in mid-2025, will unite BlackRock's $3 trillion public fixed income business with HPS's private credit capabilities. The combined entity aims to provide comprehensive public and private income solutions, positioning BlackRock to capitalize on the private debt market's projected growth to $4.5 trillion by 2030.

BlackRock (NYSE:BLK) has announced that Chief Financial Officer Martin S. Small will be presenting at the 2024 Goldman Sachs US Financial Services Conference. The presentation is scheduled for December 10th, 2024, at approximately 2:20 p.m. ET.

A live webcast of the presentation will be available through BlackRock's website in the 'Investor Relations' section. The replay will be accessible within 24 hours after the presentation and remain available for three months on the company's website.

BlackRock (NYSE:BLK) has announced that its Board of Directors has declared a quarterly cash dividend of $5.10 per share of common stock. The dividend will be payable on December 23, 2024, to shareholders of record at the close of business on December 5, 2024.

BlackRock closed-end funds announced final results of their tender offers for up to 2.5% of outstanding common shares. The tender offers, which expired on November 18, 2024, were oversubscribed for each fund. As a result, shares will be purchased from tendering shareholders on a pro rata basis. For BlackRock Health Sciences Term Trust (BMEZ), 21,043,412 shares were tendered, with 2,596,285 to be purchased at $16.3856 per share. The purchase price equals 98% of each fund's NAV as of November 19, 2024. Payments are expected within five business days after expiration.

BlackRock (NYSE: BLK) has elected Bayo Ogunlesi to its Board of Directors as a non-independent director following BlackRock's acquisition of Global Infrastructure Partners (GIP) in October 2024. Ogunlesi, the Founding Partner, Chairman and CEO of GIP, joins as a Senior Managing Director at BlackRock. With this appointment, BlackRock's Board will comprise 17 members, including 14 independent directors. Prior to founding GIP in 2006, Ogunlesi spent 23 years at Credit Suisse in various senior positions, including Executive Vice Chairman and Chief Client Officer of its Investment Banking Division.

BlackRock has converted its International Dividend Fund into an active ETF, launching the BlackRock International Dividend ETF (NYSE:BIDD). This marks the firm's first active mutual fund to ETF conversion and first U.S.-listed active ETF focusing on high-quality dividend-paying companies across international developed and emerging markets. The ETF, managed by an all-female portfolio management team led by Olivia Treharne and Molly Greenen, aims to invest at least 80% of its net assets in dividend-paying international companies. BIDD has an expense ratio of 0.61% and tracks the MSCI ACWI ex US Index.

KBRA has assigned a BBB- rating with a Stable Outlook to BlackRock Private Credit Fund's $125 million senior unsecured notes. The notes include a $70 million tranche at 7.14% due 2027 and a $55 million tranche at 7.33% due 2030. The rating is supported by BlackRock's $10.5 trillion AUM platform and $65 billion private debt platform. The fund's portfolio consists of 99.9% senior secured first lien loans focused on core middle market companies. As of Q3 2024, the fund maintained low non-accruals (0.01% at FV), gross leverage of 0.41x, and solid asset coverage at 307%.

GeoWealth, iCapital, and BlackRock (NYSE: BLK) have announced a strategic partnership to enhance unified managed accounts (UMAs) with private assets integration. The collaboration enables registered investment advisors (RIAs) to access BlackRock's custom model portfolios through GeoWealth's platform, featuring private markets, direct indexing, and fixed income SMAs alongside traditional ETFs and mutual funds. The integration leverages iCapital's Multi-Investment Workflow Tool to streamline alternative assets investing, offering unified trade orders, automated processes, and consolidated client communications.

BlackRock's 13th annual Global Insurance Report reveals that 91% of insurers plan to increase investments in private assets over the next two years. The survey, covering 410 insurance investors across 32 markets, highlights key trends for 2024:

1. Increased focus on private markets, with 96% of APAC and North American insurers planning to boost allocations.
2. Clean energy infrastructure investments targeted by 60% of insurers for low-carbon transition objectives.
3. Emphasis on technology for private asset modeling (53%) and regulatory capital integration (51%).

Despite concerns about regulatory developments (68%) and geopolitical tensions (61%), 74% of insurers have no plans to change their current risk profiles. In public markets, 42% plan to increase allocations to government and agency bonds, while in private markets, there's growing interest in various forms of private debt.