HPS Investment Partners mulls IPO
HPS Investment Partners is believed to be considering an initial public offering.
According to Bloomberg, the private credit manager has begun discussing the details of an IPO with potential investors.
Last year, Bloomberg reported that HPS had confidentially filed paperwork with the US Securities and Exchange Commission in expectation of an IPO. According to sources with knowledge of the matter, the firm could publicly disclose its financials as soon as next week.
A potential listing could value the company at more than $10bn (£7.9bn).
Read more: HPS raises $10bn for second Core Senior Lending Fund
HPS had approximately $117bn in assets under management as of June 2024.
It was founded in 2007 by Scott Kapnick, Scot French and Mike Patterson, as the private equity and credit investment division of JPMorgan’s Highbridge Capital Management division. Kapnick remains chief executive today.
In 2016, the firm bought itself out of JPMorgan in a deal that valued it at almost $1bn .
Since then, HPS has seen phenomenal growth, becoming one of the top private credit firms in the world.
Read more: HPS raises $21.1bn for private credit fund
Earlier this year, the firm closed its second Core Senior Lending Fund (CSL II) and parallel investment funds with around $10bn raised.
A few months later, HPS was forced to limit inflows into its $10bn HPS Corporate Lending Fund due to a surge in demand from high net worth individuals.
In June, the New York-headquartered asset management firm raised $21.1bn for a new private credit fund, its largest fundraising to date.
Read more: HPS limits private credit fund inflows amid surging demand
