European and Cayman Islands Disclosures
At HPS, we are committed to protecting and respecting your privacy. This policy explains how we collect and use any personal information (i.e., any information that relates to you and that identifies or can be used to identify you) that you share with us, including how we collect, process, protect and share your personal information.
When you provide us with your personal information, HPS Investment Partners, LLC, HPS Investment Partners (UK) LLP and HPS Investment Partners (HK), Limited and, in each case, their affiliated companies and the investment funds and accounts advised by them and their affiliates (together, “HPS”, “we”, “us” and “our”) act as “data controllers” as such term is defined in Regulation (EU) 2016/679 (the General Data Protection Regulation) or the Data Protection Law, 2017 of the Cayman Islands, as applicable. In simple terms, this means that we: (i) “control” the personal information that you provide, including making sure that it is kept secure; and (ii) make certain decisions on how to use and protect such personal information, but only to the extent that we have informed you about the use or are otherwise permitted by law.
1. What information do we collect about you?
2. How we obtain your personal information
3. Why we use your personal information
4. Who we share your personal information with
5. How we keep your personal information secure
6. Our retention of your personal information
7. Transfers of your personal information
8. Your rights
9. Contact us
The types of personal information we collect about you depends on the nature of your interaction with us. The types of personal information we collect may include:
- personal, device and business contact information (such as name, postal and email address, IP addresses, and telephone number);
- other personal information you submit to us, such as information you provide to register for email alerts or correspond with us in relation to inquiries;
- personal information you may submit to us in connection with any potential employment opportunities; and
- information we may collect about you in connection with evaluating and making investments to the extent that you are connected to the relevant transaction.
The personal information collected about you will help us provide you with better service or facilitate our business relationship.
We collect information about you directly when you provide it to us in correspondence and conversations (including via email and telephone) and through forms and contracts we may enter with you. We may also receive information about you from your employer, service providers or other transaction parties in connection with our review of investment opportunities. Depending on the nature of the relationship, such may include information about your name, address, email address, date of birth, passport details or other national identifier, driving licence, your national insurance or social security number and income, employment information and details about your investment or retirement portfolio(s).
In connection with an employment inquiry, we also collect information regarding your work authorization status, education history, employment history and professional designations; and other information about your qualifications.
We will only collect and process personal information about you where we have lawful bases to do so (please see section 3 below).
We may combine personal information that you provide to us with information that we collect from, or about you, in some circumstances. This will include information collected in an online or offline context.
We will use the personal information you provide us or we otherwise collect for the following purposes, and pursuant to the corresponding legal bases:
To enter into, and perform, contracts with you that you have requested.
To improve our website and notify you about changes to our services.
To respond to requests for information submitted by you through our website.
To keep a record of your relationship with us.
To assess your qualification for available employment opportunities.
To conduct know-your-customer, anti-money laundering and similar reviews.
Additionally, we will use your personal information, subject to applicable law, to keep you informed of our products and services (e.g. future funds that we are raising) based on our legitimate interest.
No automated decision making, including profiling, is used when processing your personal information.
We will share your personal information with third parties as required by law or regulation.
We will seek to ensure any third party that acts as a data processor on our behalf:
(i) enters into an agreement with us and meets our standards for data security;
(ii) does not use your personal information for any purpose other than the clearly defined purpose relating to the service that such party is providing;
(iii) treats your personal information as confidential; and
(iv) holds your personal information securely and retains it only for such period of time as necessary.
We will also share your personal information with applicable third parties in the event of a reorganization, merger, sale, acquisition, assignment or other disposition of all or a portion of our business, assets or shares.
We are committed to protect the personal information you entrust to us, and to that end we employ appropriate organizational, physical, technical and procedural safeguards designed to protect your personal information in our possession or under our control to the extent possible from unauthorized access and improper use.
To the extent that you reside in the European Union, or EU or Cayman Islands data privacy legislation applies to you or the fund in which you invest, and we transfer your personal information to countries located outside of the European Economic Area (“EEA”), such transfers are made in accordance with applicable data privacy laws.
To the extent that you reside in the European Union, or EU or Cayman Islands data privacy legislation applies to you or the fund in which you invest, you have the right to access the personal information we hold about you, and there are, subject to certain limitations, a number of ways you can control the way in which and what information we store and process about you. We have explained these individual rights and controls below. To exercise these rights and controls, please contact us at [email protected].
Access: You have the right to access the personal information that we hold about you free of charge (subject to certain situations where we may charge a ‘reasonable fee’).
Correction: You have the right to correct any inaccuracies in the information we hold about you.
Deletion: You have the right to request that we delete your personal information in certain situations (subject to any legal obligations for us to retain it).
Restrictions on use: You may request that we stop processing your personal information (other than storing it): (i) while its accuracy is verified; (ii) if the processing is illegal; (iii) if the processing is no longer necessary for the purposes for which it was collected; or (iv) if you object to the processing and we are verifying whether our legitimate grounds to process your personal information override your own rights.
Object: You have the right to object to processing, including: (i) for direct marketing (from which you may opt-out at any time); (ii) for research or statistical purposes; and/or (iii) where processing is based on legitimate interests.
If you reside in the European Union, or EU data privacy legislation applies to you, and you should you wish to lodge a complaint with regards to how your personal information has been processed by HPS, please contact your local supervisory authority. In the UK, this is the Information Commissioner (https://ico.org.uk/). If you are an investor in a Cayman Islands fund you may lodge a complaint with the Cayman Islands Ombudsman (www.ombudsman.ky).
Modern Slavery Act Statement
The United Kingdom (the “UK”) enacted the Modern Slavery Act (“MSA”) in October 2015. The MSA is designed to address all forms of human trafficking and slavery, including compulsory or coerced labor, deprivation of personal freedom or facilitating the movement of people for exploitation.
The MSA requires certain commercial organizations that carry on business in the UK to prepare a slavery and human trafficking statement. HPS Investment Partners (UK) LLP, HPS Investment Partners CLO (UK) LLP, HPS Investment Partners (UK) I, Ltd., HPS Investment Partners (UK) II, Ltd. and Segovia Loan Advisors (UK) LLP(together “HPS UK Entities”) have prepared this statement in accordance with Section 54 of the MSA.
HPS Structure and Business
The HPS UK entities are members of the HPS Group which is a global alternative investment management firm that focuses on both private and public credit strategies with the ability to invest across the credit landscape on behalf of its clients. The HPS Group is headquartered in New York with 14 additional offices globally and carries on business in the UK through HPS Investment Partners (UK) LLP, HPS Investment Partners CLO (UK) LLP and Segovia Loan Advisors (UK) LLP which are each authorized by the Financial Conduct Authority. HPS Investment Partners (UK) I Ltd. and HPS Investment Partners (UK) II, Ltd. are each corporate members of HPS Investment Partners (UK) LLP, HPS Investment Partners CLO (UK) LLP and Segovia Loan Advisors (UK) LLP.
As alternative asset management firms, the HPS UK Entities consider the risk of slavery or human trafficking existing within their business or supply chain to be low. The goods and services the HPS UK Entities purchase in the conduct of business are primarily limited to professional services, real estate, facility management, office equipment, software, and related services which present a low risk of modern slavery and human trafficking.
The HPS UK Entities also utilize certain additional services which may present a somewhat higher risk of modern slavery including catering, cleaning and maintenance work. However, given the geographic exposure of the services the risk is still deemed to be low.
The HPS UK Entities are committed to ensuring that slavery and other human rights abuses do not take place in connection with their business and take the following steps to ensure that the risk of slavery and human trafficking is adequately addressed in their business and supply chain:
- Risk assessment of our supply chains to identify any high risk areas;
- Requiring enhanced contractual terms from any high risk suppliers identified through the risk assessment process; and
- Staff training to promote awareness of the MSA and issues relating to modern slavery and human trafficking and to encourage the reporting of concerns.
Monitoring and Reporting
If the HPS UK Entities were to identify a reasonable cause for concern that a supplier represents a modern slavery risk, appropriate steps will be taken including but not limited to discontinuing the engagement and/or reporting the concerns to relevant authorities. To date the HPS UK Entities have not identified any cause for concern relating to compliance with the MSA.
This statement was approved by the governing bodies of the HPS UK entities on 27 June 2023.
SHAREHOLDER RIGHTS DIRECTIVE
Under Rule 2.2B.5R of the Conduct of Business Sourcebook in the FCA Rules, HPS Investment Partners (UK) LLP and HPS Investment Partners CLO (UK) LLP (together the "Firms") are required either to develop and publicly disclose an engagement policy, as described in the revised Shareholder Rights Directive (the “SRD II”), or publicly disclose a clear and reasoned explanation of why they have chosen not to develop and adopt a shareholder engagement policy.
The Firms provide investment management and advisory services focusing on private and public credit strategies. They invest in a range of asset classes, including corporate and sovereign bonds, secured and unsecured term loans, collateralised loan obligations and performing and non-performing assets, on behalf of their clients. The Firms do not employ equity-focused investment strategies. Investments in shares traded on a regulated market are infrequent and do not represent a significant part of the Firms’ investment activity.
The Firms have determined that, given their investment strategies and their low exposure to shares traded on a regulated market, there are limited occasions on which they are in a position to have active engagement with company management as equity holders or exercise voting rights in relation to shares. Accordingly, developing an engagement policy would be disproportionate and of limited relevance to the Firms’ business. Therefore, while the Firms are generally supportive of the objectives that underlie the SRD II, they do not consider it appropriate to adopt a shareholder engagement policy as described by SRD II at this time. The Firms will keep their position under review and update this statement if there is a change in their approach.
HPS Investment Partners Lux Sàrl
HPS Investment Partners Lux Sàrl (“HPS Lux”), is an Alternative Investment Fund Manager (“AIFM”) authorized and regulated by the Commission de Surveillance du Secteur Financier (“CSSF”), the Luxembourg Regulator, with registration number A00002799.
As an AIFM, HPS Lux will make available free of charge and on request to investors in the funds it manages (the “Funds”) information on, but not limited to: (i) the risk management processes it employs; (ii) the risk profile, including risk limits, of the Funds; (iii) the liquidity management of the Funds; (iv) certain information on HPS Lux, the Funds and their depositaries and , service providers; (v) fee arrangements; (vi) voting rights and shareholder engagement strategy; and (vii) any contractual discharge of depositary liability.
Additionally, HPS Lux also provides free of charge and on request to the investors of the Funds a copy of its best execution/selection policy, complaints policy and conflicts of interest policy.
Investors may request any of the information stated above by email, to: [email protected]
HPS Lux is committed to investigating all complaints competently, diligently and impartially. An investor in a Fund can submit a complaint free of charge:
By email, to: [email protected]
By letter, to:
HPS Investment Partners Lux Sàrl
Conducting Officer in charge of Complaints Handling
291, route d’Arlon
Grand Duchy of Luxembourg
The investor should include all relevant information to ensure an efficient investigation of the complaint. This should include: the investor’s identity and contact details, reason(s) for the complaint, the resulting alleged damage or loss in relation thereof, and where relevant copies of any relevant documentation.
The investor will receive an acknowledgement of receipt in writing within ten (10) Luxembourg business days of receipt unless the answer itself is provided within this period.
If, after receiving the final response, the investor is not satisfied with the response provided, or if HPS Lux has failed to provide the investor with an adequate response within a reasonable time from receipt of the complaint, the investor may be eligible to refer their complaint directly to the CSSF. Further information on this process and on applicable regulation, can be found on the CSSF website: https://www.cssf.lu/en/customer-complaints/