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.
SGS, investment funds managed by SVPGlobal and the largest existing holder of SGS’ outstanding funded indebtedness completed a recapitalization transaction to strengthen SGS’s balance sheet and position the business for growth. HPS Investment Partners led the financing for the investment.
IPC Systems entered into a transaction support agreement with its key stakeholders that will reduce the company’s debt by more than $400 million, extend its debt maturity schedule by five years and provide new capital of $125 million to deliver resources for investment in long-term growth strategies.
Owl Rock Capital Group and the Dyal Capital Partners division of Neuberger Berman Group entered into a definitive business combination agreement with Altimar Acquisition Corporation to form Blue Owl Capital, an alternative asset management firm with more than $45 billion in assets under management.
Centric Brands emerged from voluntary Chapter 11 proceedings. Sound Point Capital Management provided exit financing to the company, while Ropes & Gray, PJT Partners and Alvarez & Marsal served as legal, financial and restructuring advisors, respectively.
HPS Investment Partners closed its Mezzanine Partners 2019 Fund with total investable capital of more than $11 billion, including approximately $9 billion in equity commitments, which exceeded the fund’s target equity capitalization of $8 billion.
Bombardier closed a three-year $1 billion senior secured term loan facility with HPS Investment Partners, acting as administrative agent, collateral agent and the lead lender for a group including HPS Investment Partners, Apollo Capital Management and Ares Management.
Through its global direct lending platform, Ares Management is serving as the lead arranger for a £1.875 billion ($2.34 billion) financing commitment to The Ardonagh Group, an independent insurance broker.
Centric Brands entered into a restructuring support agreement, led by certain funds managed by Blackstone, Ares Management, and HPS Investment Partners, to recapitalize the company and provide $435 million in debtor-in-possession financing.
Emerge Energy entered into a senior secured asset-based revolving credit and security agreement of up to $100 million with HPS Investment Partners as administrative agent and collateral agent.