HPS Investment Partners
UnverifiedHPS Investment Partners is a New York-based, credit-focused alternative investment manager founded in 2007 as Highbridge Principal Strategies and part of BlackRock since 1 July 2025. It manages about $197 billion across private and liquid credit, spanning direct lending, junior capital, asset-based finance and CLOs, and advises the HLEND non-traded BDC.
On This Page
Total Funds (On Fundscouter)
1
AUM
€197B
Founded
2007
Company Information
Headquarters
New York, United States
Geographic Focus
North America, Europe, Asia Pacific, Middle East
Website
www.hpspartners.comInvestment Focus Details
Private Credit, Direct Lending, Asset-Based Finance, Liquid Credit, CLOs
About HPS Investment Partners
HPS Investment Partners: Credit Specialist, Now Part of BlackRock
HPS Investment Partners was established in 2007 inside J.P. Morgan Asset Management as Highbridge Principal Strategies, became independent through a management buyout in 2016 and has operated as HPS, a part of BlackRock, since BlackRock completed its all-stock acquisition on 1 July 2025. From New York and 13 further offices it invests across the non-investment-grade credit spectrum, from senior direct lending and junior capital to asset-based finance, real estate credit, leveraged loans and CLOs.
Firm Figures
Assets Under Management
$197B
Private and liquid credit, 30 June 2026
Investment Professionals
290+
14 offices across North America, Europe, the Middle East and Asia-Pacific
Committed Since 2007
$212B+
Across more than 1,000 privately originated investments
Private Financing Solutions
$394B
BlackRock unit combining HPS with BlackRock private credit, 31 March 2026
HLEND Net Assets
$12.2B
Flagship non-traded BDC, 31 July 2026
Founded
2007
Independent 2016; acquired by BlackRock 2025
Key Milestones
Founded
Established within J.P. Morgan Asset Management as Highbridge Principal Strategies.
Strategy build-out
Junior private credit and a London office (2008), specialty direct lending (2010), core senior lending (2013), asset-based lending (2015).
Independence
Management buyout from JPMorgan creates an independent, employee-owned firm.
HLEND launch
First non-traded BDC for individual investors begins operating in February; Guardian Life takes a strategic minority stake.
$100 billion
Assets under management pass $100 billion.
BlackRock
BlackRock closes its acquisition of HPS on 1 July, forming the Private Financing Solutions unit.
HLEND Leadership
Michael Patterson
Chairman & CEO of HLEND; Governing Partner, HPS
Grishma Parekh
President of HLEND; Co-Head of North American Core Senior Lending
Vikas Keswani
Managing Director, Head of Direct Lending
Michael Fenstermacher
Managing Director, Co-Head of North American Core Senior Lending
HPS is led by chief executive Scott Kapnick and governing partners Scot French and Michael Patterson, who co-founded the firm after careers at Goldman Sachs; all three sit on BlackRock's Global Executive Committee. Alongside HLEND the firm sponsors HPS European Corporate Lending Fund (HLEND-E) for non-US investors and HPS Corporate Capital Solutions Fund (HCAP), all managed by HPS Advisors, LLC.
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