HPS Investment Partners, a global credit investment firm with $101 billion in assets under management, closed its second Core Senior Lending Fund (CSL II) and parallel investment funds and accounts with approximately $10 billion in investable capital. This includes $7.3 billion in equity commitments.
CSL II will focus on pursuing risk-adjusted returns for investors by investing in privately originated, floating rate, senior secured loans to businesses primarily across North America, Western Europe, Australia and New Zealand, including sponsored, non-sponsored and public borrowers. To date, the fund has committed approximately 57% of its capital across 54 investments.
“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,” Michael Patterson, a governing partner of HPS and the portfolio manager for HPS’s direct lending funds, said. “As markets continue to grapple with sustained volatility and the retreat of some traditional lenders, we are seeing a robust investment opportunity set and believe this will prove to be an especially attractive period for sophisticated, well-capitalized and resourced private credit providers, such as HPS and our investors.”
“We were extremely pleased with the robust reception CSL II received from a wide range of the world’s most sophisticated institutions, who see the incredible opportunity presented by today’s private credit markets,” Scott Kapnick, CEO of HPS, said. “We appreciate our clients’ support and look forward to helping them achieve their investment goals while working with leading private and public companies on bespoke financial solutions to enable them to achieve their business objectives.”
