Citi, BlackRock’s HPS Launch €15B Private Credit Program Targeting EMEA

Citigroup Inc. and HPS Investment Partners, a part of BlackRock, announced a €15 billion Private Capital Program to expand access to private financing for corporate and sponsor-owned borrowers across the EMEA region.

The program is expected to finance debt opportunities over an initial five-year term. It will focus on borrowers whose principal business is based in continental Europe and the United Kingdom, with plans to eventually extend to the Middle East. Eligible transactions will span a broad range of sub-investment-grade debt instruments.

“This Program is designed to directly support our clients’ strategic objectives across the EMEA region by combining Citi’s deep client relationships and origination strength with their significant capital and structuring expertise,” said John McAuley, Co-Head of Debt Capital Markets at Citi.

Under the terms of the initiative, Citi will use its Investment, Corporate and Commercial Bank-led origination capabilities to source investment opportunities for the platform. The collaboration is aimed at providing more comprehensive and flexible capital solutions at a time when many borrowers are turning to private markets to complement traditional lending channels.

“This collaboration will enable us to leverage Citi’s extensive network and origination pipeline in EMEA, further strengthening our ability to deliver tailored financing options to a broad range of borrowers,” said Matthieu Boulanger, Partner and Head of Europe at HPS, a part of BlackRock.