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Laxman Pai, Opalesque Asia: HPS Investment Partners, a giant credit manager that manages over $100 billion in assets, raised $7.3 billion in equity commitments from institutional investors for its second private credit fund dedicated to senior corporate loans.
The new vehicle - Core Senior Lending Fund II - has a total of $10 billion in available capital, including leverage, said a press release from the global investment firm with a focus on non-investment grade credit.
HPS Core Senior Lending Fund II will invest in privately originated, floating rate, senior secured loans for middle-market and upper-middle-market companies with more than half of the aggregate capital in North America and the remainder in Western Europe and Australia. To date, the Fund has committed approximately 57% of its capital across 54 investments.
The fund's investors include Brunel Pension Partnership, Bristol, England, Border to Coast Pensions Partnership, Leeds, England Ohio Police & Fire Pension Fund, Columbus.
"Since its inception in 2010, our direct lending platform has consistently differentiated itself through its agility, tailored structuring expertise, relationships and sourcing capabilities, and scale. CSL II significantly enhances our ability to deliver compelling investment solutions for sophisticated institutional investors and address the capital needs of a wide range of borrowers across sectors and geographies," said Michael Patterson, a Governing Partner of HPS and...................... To view our full article Click here
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