Our History
Milestones in our journey
Since our founding in 2007, we have focused on unlocking the return potential of alternative credit for our investors. We have sought to optimize our approach, processes, and platform to capture the global alternative credit investment opportunity while addressing the bespoke needs of the world's largest and most sophisticated investors. We have grown in a deliberate manner, extending our reach and capabilities in response to changing market conditions and the evolving objectives of our clients.
2007
HPS was founded as a part of J.P. Morgan Asset Management to invest in the nascent alternative credit asset class in the US and Europe.
We launched our liquid alternative credit strategy amid global disruption, aiming to navigate market volatility and achieve outsized returns based on fundamental research.
2008
We launched our junior private credit strategy, Strategic Investment Partners, establishing our investment capabilities across the capital structure in both public and private markets.
We opened our London office to position ourselves as a global business from day one.
2010
We introduced our first dedicated senior private credit strategy, Specialty Direct Lending, which focused on addressing situations with perceived complexity and financing needs not necessarily tied to leveraged buyout activity.
2013
We created our first series of fully customized private credit investment accounts tailored to meet the unique needs of our clients.
At the request of a large European insurance client, we launched our second dedicated senior private credit strategy, Core Senior Lending, a highly scalable, core complement to our more opportunistic Specialty Direct Lending strategy.
2015
We initiated a dedicated asset-based lending strategy, adding an option for attractive, uncorrelated return potential to our suite of private credit investment offerings.
We added a Sydney-based private credit investment team to expand our global investment offerings into the Asia-Pacific region.
2016
The principals of HPS purchased the firm from J.P. Morgan Asset Management, creating one of the largest independent and employee-owned firms specializing in non-investment grade alternative credit.
2017
We led one of the earliest private credit transactions with a $1bn+ tranche size—investing approximately $850mm of a $1.4bn refinancing— demonstrating our ability to commit at significant scale with speed and certainty.
2018
We generated growth capital to expand our investment offerings and fortify our balance sheet through a passive minority investment from Dyal Capital Partners, which also enabled us to continue our strong alignment with our fund investors.
With the investment professionals from Tålamod Asset Management joining our team, we expanded our distressed and special situations investing capabilities.
2020
We created the Insurance Solutions Group—a cross-functional team of investment, insurance, financing, and structuring specialists—to deliver holistic, tailored solutions designed for the specific needs of our insurance clients.
2021
We partnered with the Kapnick Foundation to establish the HPS Center for Financial Excellence at Howard University with the goals of preparing students for finance careers and enhancing diversity across our industry.
We opened offices in Dubai and Singapore, expanding our global reach and strengthening our local presence for clients.
2022
Guardian Life Insurance acquired a strategic minority stake in HPS and made a large-scale capital commitment to current and future investment strategies, reinforcing our role as an investment solutions provider of choice for some of the world’s largest and most sophisticated insurers.
We launched HLEND, our first non-traded business development company, to bring our institutional direct lending offering to individual investors through an investment fund structure optimized for their needs.
2023
We celebrated 16 years of delivering results for our investors as the firm surpassed $100B of assets under management, becoming one of the quickest alternative investment management firms to reach that growth milestone.
2024
Guardian expanded its strategic partnership with HPS, placing approximately $30 billion of assets primarily focused on high-grade private credit, real estate credit and non-investment grade liquid credit under HPS management.
