HPS Investment Partners, a leading global investment firm with a focus on non-investment grade credit, today announced that it has completed fundraising for HPS Specialty Loan Fund 2016. The Fund raised over $4.5 billion of Limited Partner capital with $6.5 billion of purchasing power, exceeding the initial target of $5 billion. HPS Specialty Loan Fund 2016 will invest primarily in newly issued, secured debt in refinancings, acquisitions, and restructurings by middle-market companies, as well as companies in special situations.
As one of the largest direct lending funds globally, HPS's specialty loan platform has invested nearly $13 billion in approximately 175 portfolio companies over the past eight years. The Firm's experienced global team comprised of broad sector and geographic expertise continues to provide the platform with a strong foundation and a consistent flow of investment opportunities.
"Investor response to our fourth HPS Specialty Loan Fund has been positive and we are appreciative of the trust and confidence our investors continue to place in our platform and investment team," said Mike Patterson, Partner of HPS and Head of HPS's Specialty Loan Fund. "As the breadth and depth of the private debt markets expand, large borrowers are expressing increased demand for creative and flexible solutions to help them meet their financing needs. This has created a unique opportunity set for firms like ours. We look forward to delivering on our core objectives of generating attractive risk-adjusted returns while focusing on preservation of capital."
Scott Kapnick, Chief Executive Officer of HPS, said, "We believe investors have an appetite to be more active in this space, and our Specialty Loan Fund offers an opportunity to do so with a firm that offers global reach, world-class investment talent and outstanding risk management capabilities."
About HPS Investment Partners
HPS Investment Partners, LLC ("HPS") is a leading global investment firm with a focus on non-investment grade credit. Established in 2007, HPS has approximately 100 investment professionals and over 200 total employees, and is headquartered in New York with ten additional offices globally. As of September 2017, HPS had approximately $40 billion of assets under management.