Lunate, an Abu Dhabi-based asset manager, is considering buying a minority stake in HPS Investment Partners as the private credit firm weighs an IPO or sale, Bloomberg News reported.

Lunate is evaluating an investment of $1 billion or more into HPS, Bloomberg reported. Lunate is the latest firm to show interest in HPS, which is pursuing a potential IPO that could value it at $10 billion or more. BlackRock (NYSE: BLK) is exploring a purchase of the credit firm as multiple potential suitors weigh preempting the IPO attempt, as reported by Bloomberg. Private equity firm CVC Capital Partners has been interested in a potential combination with HPS and has held on-and-off talks, but no formal negotiations are currently underway, according to Bloomberg.