BlackRock’s Kapnick Says Big Firms to Gain From Credit Turmoil

BlackRock Inc.’s Scott Kapnick, who leads the firm’s private credit business, said the biggest players will capitalize on the current industry turmoil while some of its smaller lenders may get left behind.

“Most of the big managers are very good at managing risk, and the scaled players are going to continue to benefit from this period,” Kapnick, who is chief executive officer of HPS Investment Partners, said at the Bloomberg Invest event Wednesday. For smaller firms operating more niche strategies, “that’s a tougher spot to be,” he said.