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HPS Investment Partners closes European Asset Value credit fund with $842m in assets

Thursday, January 05, 2017

Komfie Manalo, Opalesque Asia:

HPS Investment Partners, LLC, a global investment firm with a focus on non-investment grade credit, has announced the closing of its first European Asset Value Fund with aggregate capital commitments of $842m. The fund will seek to take advantage of strategic shifts in the European specialty finance sector, where regulatory-induced deleveraging is leading banks to divest of capital intensive and non-core portfolios and platforms.

The fund's team, which has more than 40 years of experience investing across a broad array of financial and real-asset platforms, will focus on building a diversified portfolio of performing assets, as well as origination and infrastructure. Specifically, the fund will invest in leases and loans backed by assets and receivables, including equipment, information technology, automobiles, aircraft, trucks and other transportation assets. Acquiring and developing scalable platforms will also allow the fund to source new assets and provide direct financing to European small and medium-sized enterprises (SME) and consumers.

"We appreciate the confidence that our investors have placed in the Fund's investment strategy and our ability to identify and capitalize on unique opportunities," said Jonathan Ashley and Justin Staadecker, Co-Portfolio Managers of HPS's European Asset Value Fund. "We believe that the current market conditions in Europe will afford us the opportunity to acquire a highly diverse pool......................

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