HPS raises $10bn for second Core Senior Lending Fund
HPS Investment Partners, a credit investment firm with $101bn (£80bn) in assets under management, has closed its second Core Senior Lending Fund (CSL II) and parallel investment funds with around $10bn raised.
This includes $7.3bn in equity commitments.
CSL II will invest in floating rate, senior secured loans to well-established businesses across North America, Western Europe, Australia and New Zealand.
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The fund has committed around 57 per cent of its capital across 54 investments to date.
“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-capitalised and resourced private credit providers, such as HPS and our investors,” said Michael Patterson, a governing partner of HPS and the portfolio manager for HPS’s direct lending funds.
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HPS manages various strategies including senior and junior debt, liquid credit, collateralised loan obligations, high yield bonds, asset-based finance and real estate.
