BlackRock plans to expand its private markets offering for retail investors with a new series of funds developed in partnership with HPS Investment Partners, the credit specialist it acquired for $12bn earlier this year, according to a report by Bloomberg. 

Speaking at the Goldman Sachs Financial Services Conference, BlackRock chief financial officer Martin Small said the platform is preparing five to seven new vehicles, potentially branded the H Series, to launch next year. “We’re really building out the product agenda,” he said. “That’s an H series that ultimately, I think, we can bring in a very coordinated way.”

The range would sit alongside HPS’ existing HLEND fund and may include strategies in junior debt, real assets, and triple-net lease real estate. HPS executives are also reworking a multi-strategy credit fund, while BlackRock’s Private Investments Fund could become a key vehicle for secondary stakes and co-investments.

The move underscores BlackRock’s ambition to deepen its presence in private markets for retail and wealth investors, a segment that has attracted major global managers. KKR, for example, has developed its own K-Series for individual investors, mirroring a broader industry shift toward evergreen private market products.

BlackRock shares rose 1% following the announcement, bringing gains for the year to 4.6%.

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