HPS
HPS Investment Partners is a New York-based global alternative investment firm specializing in private credit, founded in 2007 by Scott Kapnick and other former Goldman Sachs professionals. The firm manages approximately $120 billion in assets and is one of the world's largest and most experienced private credit managers. In a landmark transaction announced in 2024, BlackRock agreed to acquire HPS Investment Partners, marking one of the largest acquisitions in the alternative investment management industry and substantially expanding BlackRock's private credit capabilities. The acquisition underscores the strategic premium commanded by scale private credit platforms in the current market environment.
HPS's investment platform spans multiple private credit and alternative strategies, including direct lending, mezzanine and subordinated debt, senior credit, real assets credit, and opportunistic credit. The firm is particularly recognized for its ability to structure and execute large, complex credit transactions that require significant balance sheet capacity and sophisticated deal underwriting — financing packages that are typically unavailable from traditional bank lenders or smaller private credit managers. HPS works across a range of industry sectors including healthcare, technology, media, infrastructure, and financial services, providing flexible capital solutions ranging from senior secured facilities to complex capital structures.
HPS Investment Partners has established itself as one of the most influential and respected private credit managers in the world, having built a platform over nearly two decades that combines institutional-quality investment expertise with the flexibility and speed of execution that borrowers and sponsors value. The firm's consistent performance across market cycles, ability to handle scale, and global investment reach have attracted capital from some of the world's largest institutional investors. The pending acquisition by BlackRock underscores the strategic importance and growth potential of HPS's private credit platform and is expected to create one of the world's foremost integrated public and private credit investment organizations.