BlackRock-backed HPS Investment Partners completed the acquisition of ElmTree Funds.

BlackRock-backed HPS Investment Partners, an investment firm, completed the acquisition of ElmTree Funds, a real estate investment firm. Financial terms were not disclosed. “We are thrilled to welcome our new colleagues from ElmTree Funds to PFS. Combining ElmTree’s expertise in the commercial net-lease sector with our leading capabilities and scale further augments our ability to provide diverse investment solutions for our clients as we continue to capture the immense opportunities created by structural shifts in the capital markets. We are excited to deliver on the potential of this combined platform, with Jim and his team onboard for this next step in our evolution," Scott Kapnick, HPS Investment Partners Chairman.