NEW YORK, June 5, 2023 -- HPS Investment Partners, LLC ("HPS"), a leading global credit investment firm with $101 billion in assets under management, today announced the closing of its second Core Senior Lending Fund ("CSL II") and parallel investment funds and accounts, with approximately $10 billion in investable capital. This includes $7.3 billion in equity commitments.
CSL II will focus on pursuing attractive, risk-adjusted returns for investors by investing in privately originated, floating rate, senior secured loans to leading, well-established and diversified businesses across primarily North America, Western Europe, and Australia / New Zealand including sponsored, non-sponsored and public borrowers. To date, the Fund has committed approximately 57% of its capital across 54 investments.
"Since its inception in 2010, our direct lending platform has consistently differentiated itself through its agility, tailored structuring expertise, relationships and sourcing capabilities, and scale. CSL II significantly enhances our ability to deliver compelling investment solutions for sophisticated institutional investors and address the capital needs of a wide range of borrowers across sectors and geographies," commented Michael Patterson, a Governing Partner of HPS and the Portfolio Manager for HPS's direct lending funds." As markets continue to grapple with sustained volatility and the retreat of some traditional lenders, we are seeing a robust investment opportunity set and believe this will prove to be an especially attractive period for sophisticated, well-capitalized and resourced private credit providers, such as HPS and our investors."
“We were extremely pleased with the robust reception CSL II received from a wide range of the world’s most sophisticated institutions who see the incredible opportunity presented by today’s private credit markets,” added Scott Kapnick, Chief Executive Officer of HPS. “We appreciate our clients’ support and look forward to helping them achieve their investment goals while working with leading private and public companies on bespoke financial solutions to enable them to achieve their business objectives.”
About HPS Investment Partners
HPS Investment Partners, LLC is a leading global, credit-focused alternative investment firm that seeks to provide creative capital solutions and generate attractive risk-adjusted returns for our clients. We manage various strategies across the capital structure, including privately negotiated senior debt; privately negotiated junior capital solutions in debt, preferred and equity formats; liquid credit including syndicated leveraged loans, collateralized loan obligations and high yield bonds; asset-based finance and real estate. The scale and breadth of our platform offers the flexibility to invest in companies large and small, through standard or customized solutions. At our core, we share a common thread of intellectual rigor and discipline that enables us to create value for our clients, who have entrusted us with approximately $101 billion of assets under management as of April 2023. For more information, please visit www.hpspartners.com.