Industry Updates

Highbridge Principal Strategies closes HPS Mezzanine Partners Fund II with $5bn

Monday, March 18, 2013

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Opalesque Industry Update - Highbridge Principal Strategies (“HPS”), a global credit and private investment firm, today announced the final closing of HPS Mezzanine Partners Fund II (the “Fund”) with total capital of over $5 billion. As one of the largest dedicated mezzanine funds globally, the Fund will invest primarily in subordinated debt securities across a broad set of industries with a focus on North America and Western Europe, consistent with its 2008 predecessor fund.

Over the past six years, the HPS mezzanine platform has established itself as a leading, scaled investor with long-term capital and a proven track record of delivering creative capital solutions to both corporations and private equity firms. HPS’ focus on building a global team with deep and broad sector and geographic expertise continues to support a consistent flow of investment opportunities for the Fund, many of which have been proprietary. Since its initial closing in the first half of 2012, the Fund has invested or committed to invest over $1 billion in 9 companies in North America and Western Europe.

“We are appreciative and fortunate to have enthusiastic support from our existing and new investors,” said Scot French, Partner of HPS and Head of HPS Mezzanine. “The strength of both our track record and global relationships positions us favorably to continue providing creative capital solutions to our corporate and private equity partners while delivering attractive returns to our investors.”

Scott Kapnick, Chief Executive Officer of HPS and Managing Partner of Highbridge Capital Management, said: “We have continued to see tremendous interest from investors around the world for non-investment grade corporate credit platforms, like HPS, that have scale, a deep bench of investment talent and world-class risk management capabilities. Our Mezzanine Fund exemplifies this dynamic as we use this sizeable, flexible capital base to seek attractive absolute and relative returns for our investors.”

press release

Highbridge Principal Strategies is a global credit and private investment firm with approximately $16 billion of assets under management. HPS invests across the capital structure in the public and private capital markets. HPS’ diversified investment platform includes privately negotiated mezzanine debt investments, specialty direct lending, public credit securities, growth equity and leveraged loans. HPS is a subsidiary of Highbridge Capital Management and J.P. Morgan Asset Management. Source

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