HPS Investment Partners Raises Over $21 Billion for Specialty Loan Fund VI

NEW YORK, June 24, 2024 /PRNewswire/ -- HPS Investment Partners, LLC ("HPS"), a leading global credit investment firm with approximately $114 billion of assets under management, today announced the final close of Specialty Loan Fund VI (together with parallel funds and accounts, "SLF VI" or the "Fund"), with $21.1 billion in investable capital. This includes $14.3 billion in equity commitments from a range of large, sophisticated global institutions including new and repeat HPS investors as well as available borrowings. Of the equity commitments, approximately $10.4 billion were raised in the commingled fund, exceeding its original target of $7.5 billion, and the remainder was raised in funds-of-one, separately managed accounts, and co-investment vehicles.

To date, SLF VI has invested more than $2.5 billion of its investable capital across 29 investments. The Fund will continue to pursue unique opportunities to deploy its capital while seeking differentiated, attractive returns for its investors by utilizing HPS's scale, relationships, and analytical and structuring capabilities to originate and invest in a range of capital solutions for borrowers across sectors and geographies.

"As one of the largest and longest-tenured direct lending platforms, we are well positioned to capitalize on the rapidly growing demand for bespoke capital solutions from companies as they execute on their business strategies through evolving market cycles," said Michael Patterson, a Governing Partner of HPS and the Portfolio Manager for HPS's direct lending funds. "Our analytical rigor and ability to navigate complexity quickly, combined with our scale and relationships, enable us to see a variety of transactions with leading sponsor-backed, non-sponsor backed, and public companies, and selectively execute on those that we believe offer the most attractive risk-adjusted returns for our clients."

"This latest milestone, which follows two record fund closes in 2023, demonstrates the strong momentum across our business and our position as a partner of choice to the world's largest and most sophisticated institutions, as they initiate and grow private credit exposure to achieve their investment objectives. We are honored by our investors' support and will continue to diligently invest and protect their capital," added Scott Kapnick, Chief Executive Officer of HPS. "Private credit plays an increasingly vital role in the development of Western capital markets and is rapidly expanding into investment grade and asset-backed financings. We look forward to applying the same experience and discipline that made us successful with our flagship funds and continuing to provide our investors with a comprehensive set of solutions across the risk/return continuum."

Specialty Direct Lending, one of the two HPS flagship senior direct lending strategies, employs an opportunistic investment approach that leans on its structuring expertise to source and execute investment opportunities that can command a premium due to perceived business or transactional complexity. Together with its Core Senior Lending Platform, HPS's other senior direct lending strategy focused on senior lending to stable and established middle market and large-scale companies, HPS's senior direct lending platform has invested approximately $100 billion in over 639 investments since 2010.

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 $114 billion of assets under management as of April 2024. For more information, please visit www.hpspartners.com.

Media Contacts
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SOURCE HPS Investment Partners