BlackRock's HPS Investment Partners to Invest Up to $434.6 million in TBS Energi Utama

05:03 AM EDT, 10/22/2026 (MT Newswires) -- BlackRock's (BLK) HPS Investment Partners unit has agreed to invest up to $555 million Singapore dollars ($434.6 million) in SBTH Asia Holdings, the holding company of TBS Energi Utama's waste management platform, according to a Wednesday statement. TBS said the investment will be made through a subscription for new preference shares issued by SBTH Asia Holdings, the holding company of its waste management platform. Proceeds will be used for TBS' waste management business in Asia, the company added. TBS said it will retain control of the business and pursue growth through organic expansion and acquisitions. The transaction remains subject to TBS shareholders' approval, according to the statement.