HPS Investment Partners (“HPS” or the “Firm”), a leading global credit investment manager with over $45 billion in assets under management, today announced that it has sold a passive, non-voting minority equity stake to Dyal Capital Partners (“Dyal”), a division of Neuberger Berman. Terms of the investment were not disclosed.
Dyal’s passive minority investment will provide the Firm with additional resources to pursue strategic initiatives and continue its significant alignment with clients. The investment from Dyal will have no impact on the day-to-day management or operations of HPS. The Firm’s investment and decision-making processes will also remain unchanged.
“We are delighted to have Dyal as a long-term investment partner. Their experience and proven track record of supporting marquee alternative asset managers will be helpful to us as we continue to strategically build and scale our platform,” said Scott Kapnick, Chief Executive Officer of HPS Investment Partners.
“HPS is a world-class investment firm that possesses remarkable depth and breadth of expertise across the public and private global credit markets,” said Michael Rees, Head of Dyal Capital Partners. “The firm has distinguished itself through its exceptional management and investment team, and we believe they remain strategically positioned to further capitalize on a broad array of unique investment opportunities across the credit spectrum. We look forward to supporting Scott and the entire HPS team in the years to come.”
HPS has experienced significant growth since its founding in 2007. In particular, its private credit platform has risen to become amongst the most prominent in the industry. As one of the largest dedicated mezzanine investors globally, HPS has invested a total of $13 billion in 82 companies to date. The Firm’s direct lending business is also amongst the largest globally, having invested $21 billion across 230 companies to date. HPS’s private credit platform includes sector-focused strategies designed to seek opportunities across credit cycles, including energy and power and real estate.
In Europe, HPS has expanded its private credit capabilities, including mezzanine debt, direct lending and leasing platforms. The Firm has also continued to broaden its presence across the public credit markets, with investment opportunities spanning collateralized loan obligations, leveraged loans, broadly syndicated non-investment grade corporate credit securities, and, most recently adding capabilities in Asia credit.
Evercore acted as financial advisor to HPS Investment Partners.