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BlackRock acquires private debt manager Kreos Capital

BlackRock Inc has accelerated the growth of its credit platform with a deal to acquire full control of Kreos Capital, a provider of growth and venture debt financing to companies in the technology and healthcare industries.

BlackRock Inc has accelerated the growth of its credit platform with a deal to acquire full control of Kreos Capital (Kreos), a provider of growth and venture debt financing to companies in the technology and healthcare industries.
 
The acquisition of Kreos is part of BlackRock’s strategy to provide clients with a diverse range of private market investment products and solutions. 
  
Since its inception in 1998, Kreos has committed more than €5.2 billion across more than 750 transactions in 19 countries, to more than 550 pan-European and Israeli high-growth companies in the technology and healthcare sectors. In technology, the firm has invested across fintech, enterprise software, cybersecurity, semiconductors, digital marketing, AI, and other sub-sectors. In healthcare, it has backed companies in areas such as drug and treatment development, medical products and devices, and healthcare tech.
 
Kreos is headquartered in London and its 45-person team will join BlackRock as part of the transaction and integrate into BlackRock’s European Private Debt platform. The current Kreos leadership will continue to be responsible for executing the firm’s investment strategies.
 
The transaction, which is expected to close in Q3 2023, is subject to customary regulatory and closing conditions. The financial impact of the transaction is not material to BlackRock earnings.
 
Moelis & Company acted as exclusive financial adviser and Goodwin Procter London provided legal advice to Kreos Capital. Skadden, Arps, Slate, Meagher & Flom provided legal advice to BlackRock.
 

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