BlackRock-backed HPS Investment Partners to acquire ElmTree Funds.

BlackRock-backed HPS Investment Partners, an investment firm, agreed to acquire ElmTree Funds, a real estate investment firm. Financial terms were not disclosed. “The net lease market is estimated at $1 trillion, and our continued belief in the industrial build-to-suit model is rooted in the mission-critical nature of this asset class. Our specialized bricks-and-mortar expertise will be augmented by HPS’s ability to provide financing and other solutions that fuel the corporations and developers driving the economy forward. By joining HPS and BlackRock, we are better positioned to meet market demand and serve our partners by growing alongside them for the long term,” James Koman, ElmTree CEO and Founder.