Financial adviser BlackRock Inc. is looking into giving up its takeover rights for financial technology company Institutional Capital Network Inc., or iCapital, The Wall Street Journal reported, citing people familiar with the matter.

BlackRock became an iCapital investor in 2016 and reportedly negotiated the right to buy the entire company in two to five years. The companies are now in talks for a different deal, where BlackRock would remain iCapital's biggest minority stockholder and BlackRock's debt positions in the fintech company would be converted into equity, according to the news outlet's sources.

BlackRock owns about 10% of iCapital.