HPS Corporate Lending Fund Holds NAV at $24.45 as Offering Reaches $14.27 Billion

Average leverage slipped to about 0.92 times in August as the fund held its variable supplemental payout at $0.0390 per share.

September 24, 2026

HPS Corporate Lending Fund‘s continuous offering has now taken in $14,273.9 million against a registered offering of up to $15.0 billion, based on figures the fund reported through its September 1, 2026 subscription date. The fund said it intends to keep selling shares monthly.

Net asset value per share held at $24.45 across all four share classes as of August 31, 2026, unchanged from the July 31 figure reported a month earlier. Aggregate net asset value was $12,264.6 million, the investment portfolio was carried at a fair value of $23,174.3 million, and principal debt outstanding was $11,221.2 million.

Leverage edges lower

Average debt-to-equity for August came in at approximately 0.92 times, down from approximately 0.96 times in July. Principal debt outstanding also finished below the $11,415.7 million reported at the end of July, while aggregate net asset value rose from $12,150.8 million.

Class I moves to the front

Class I is now the fund’s largest share class by both shares issued and capital raised, narrowly overtaking Class F, which had led on both counts in the prior month’s report.

• Class I — 240,360,275 shares, $6,054.2 million
• Class F — 240,078,280 shares, $6,005.7 million
• Class D — 52,469,287 shares, $1,313.8 million, identical to the totals reported a month earlier
• Class S — 35,537,936 shares, $900.2 million

September distributions

On September 22, 2026, the fund declared regular and variable supplemental distributions for every share class. Each class carries a gross regular distribution of $0.1600 per share and a variable supplemental distribution of $0.0390 per share, matching the supplemental amount declared in August. Class-specific shareholder servicing and distribution fees account for the differences in net payouts:

• Class I — $0.1990 total, with no servicing or distribution fee
• Class D — $0.1940 total, after a $0.0050 fee
• Class F — $0.1890 total, after a $0.0100 fee
• Class S — $0.1819 total, after a $0.0171 fee

The distributions are payable to shareholders of record as of September 30, 2026 and will be paid on or about October 30, 2026, in cash or in additional shares for participants in the distribution reinvestment plan.

Robert Busch, chief financial officer and principal accounting officer, signed the report on September 22, 2026.