Credit manager powerhouse HPS Investment Partners, LLC has continued its heavy fundraising effort in 2023 with the close of its second Core Senior Lending Fund with approximately $10 billion in capital, including $7.3 billion in equity commitments. 

The fund has committed about 57% of its capital across 54 investments to date and comes just a few weeks after it reached a $12 billion final close for its fifth flagship credit investment fund, exceeding its $9.5 billion target. 

“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,” said Michael Patterson, an HPS Governing Partner. 

The fund will focus on privately originated, floating rate, senior secured loans businesses, primarily across North America, Western Europe and Australia and New Zealand. 

The firm now has over $100 billion of assets under management across senior debt, junior capital solutions in debt, preferred and equity formats, liquid credit including syndicated leveraged loans, collateralized loan obligations and high yield bonds, asset-based finance and real estate. 

Private equity firms, hedge funds and wealth managers have recently been expanding their investment capabilities for private debt. Private equity giant TPG, Abu Dhabi sovereign investor Mubadala and Prudential Financial are several notable names acquiring private credit managers to expand their market reach. 

Don’t miss the Connect Money: Alternative Assets Conference on June 14 in Chicago at the W City Center. Meet private credit experts like Yonah Sturmwind, Manager, Commercial Lending Specialty Originations.