BlackRock’s Long Term Private Capital vehicle will announce its third acquisition next week, Sky News understands.

A private equity fund managed by the world’s biggest institutional investor is close to finalising the takeover of Aquila Heywood, a pensions software provider, in a deal that will trigger windfalls for its bosses.

Sky News has learnt that BlackRock’s Long Term Private Capital (LTPC) vehicle is in advanced talks to buy Aquila Heywood for a price that analysts said was likely to be in the region of £350m.

If completed, it would be the third acquisition made by the LPTC fund, which closed an initial public offering last month after raising nearly $3.5bn.  In total, BlackRock now manages assets worth a staggering $8.67trn, making it easily the world’s largest fund manager.

Read more/Source: Sky News