Answer:
Founded in 2007, Investment Management firm, HPS Investment Partners, manages $149 billion in assets, including 126 billion of private credit. Their BDC, HPS Corporate Lending Fund, has raised over $9 billion and manages over $16 billion. The fund’s I share pays a distribution of 7.36%, as of Q4 2024, the lowest of any open nontraded BDC of the 17 total. Their 12-month total return, as of Q4 2024, was 12.95%. It was announced on December 3, 2024, that Blackrock has reached an agreement to acquire HPS for approximately $12 billion.
