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Laxman Pai, Opalesque Asia: New York-based HPS Investment Partners has clinched its fifth specialty loan vehicle, Specialty Loan Fund V (SLF V), with about $15.4 billion in investable capital.
According to a press release from the credit investment firm with approximately $75 billion in assets under management, it has raised roughly $11.7 billion from investors for the new fund, and together with parallel investment funds and accounts, it closed with about $15.4 billion of investable capital.
The new fund has already deployed almost 60% of its investable capital to 58 investments, the news release said. The manager's direct lending platform has a total of $9.3 billion in deployable dry powder including leverage.
Scott Kapnick, Chief Executive Officer of HPS, said: "The incredibly strong reception SLF V has received from a diverse group of institutions around the world reinforces the leadership position we have forged within the global private credit marketplace. We are grateful for our investors' support and consider ourselves privileged to have the opportunity to partner with them in pursuit of their investment objectives."
Investors in the new fund include the Rhode Island State Investment Commission, Providence, which oversees the $10.3 billion Rhode Island Employees' Retirement System, and the $10.1 billion Alameda County Employees' Retirement Association, Oakland, Calif.
HPS's direct lending platform has invested more than $5...................... To view our full article Click here
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