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Private Equity
FINANCE | Investment Firms & Funds
hpspartners.com

Investments

102

Portfolio Exits

34

Funds

21

Partners & Customers

2

Service Providers

3

About HPS Investment Partners

HPS Investment Partners originally formed as a division of Highbridge Capital Management within J.P. Morgan Asset Management and known as Highbridge Principal Strategies. The company develops a diversified investment platform and manages capital for many of the world's most prominent institutional investors, public and corporate pension funds, endowments, foundations, family offices and high net worth individuals. The Firm is based in New York with offices in Hong Kong, and London.

Headquarters Location

40 West 57th Street 33rd Floor

New York, New York, 10019,

United States

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Latest HPS Investment Partners News

Yesway Raises $190 Million

Jan 31, 2023

Yesway Raises $190 Million January 30, 2023 BW Gas & Convenience Holdings, LLC d/b/a  Yesway  is pleased to announce that it has raised $190 million in new equity in the second half of 2022 to continue funding its successful new store construction program. The majority of the structured equity comes from HPS Investment Partners, a leading global investment firm with $95 billion of assets under management. “We are tremendously excited to announce our new partnership with HPS,” said Tom Trkla, Chairman and Chief Executive Officer of Yesway. “We are deeply appreciative of the collaborative and accommodating nature of our discussions with HPS that showed a keen understanding of our business and are impressed by the talent of their investment team.” In the past year, Yesway commenced an aggressive campaign to grow store count and financial performance through the completion of new stores and raze-and-rebuild projects across its portfolio and geographic footprint. Throughout 2022, Yesway completed the construction of 17 new stores and 21 raze-and-rebuild projects at an industry-leading annual return on invested capital. Given the success of the completed projects to-date, Yesway plans to construct 28 additional new stores in 2023, the majority of which will be funded using the proceeds of the new equity it has raised. Yesway was founded in 2015 by Brookwood Financial Partners (“Brookwood”), a real estate private equity firm that specializes in acquiring and managing value-add commercial real estate and real estate-related operating businesses. Since Yesway’s inception, Brookwood has raised approximately $825 million in equity to effect Yesway’s growth strategy. Yesway was advised on the transaction by Latham & Watkins and HPS was advised by Gibson, Dunn & Crutcher. About Yesway:  Yesway is one of the fastest-growing convenience store operators in the United States. Established in 2015, Yesway is a multi-branded platform headquartered in Fort Worth, Texas, which operates 428 stores located in Texas, New Mexico, South Dakota, Iowa, Kansas, Missouri, Wyoming, Oklahoma, and Nebraska. Yesway operates its portfolio primarily under two successful brands, Yesway and Allsup’s, with sites that are differentiated through a leading foodservice offering, featuring Allsup’s famous deep-fried burrito, and a wide variety of high-quality grocery items and private-label products. Yesway’s geographic footprint consists of stores located in attractive rural and suburban markets across the Midwest and Southwest, where it is often the convenience retail destination of choice and effectively the local grocer. The Yesway team has a successful track record of growing through acquisitions and believes it is well positioned to continue to solidify its market position and grow its store count. Yesway has received numerous industry awards for its growth initiatives, management team, loyalty program, and employees’ contributions to the industry. yesway.com About Brookwood: Founded in 1993, Brookwood Financial Partners specializes in acquiring and managing value-add commercial real estate and real estate-related operating businesses. Since its inception. Brookwood has invested over $1.9 billion of equity to acquire and manage a portfolio of 202 commercial real estate properties, seven operating companies, and 428 gas stations with convenience stores, collectively representing a total capitalization of over $4.5 billion. Brookwood’s portfolio has spanned multiple asset classes, geographical markets, and industries throughout the United States. brookwoodfinancial.com About HPS:  HPS is a leading global investment firm with $95 billion of assets under management, founded in 2007 to focus on credit and longer-dated, less-liquid investment opportunities. HPS manages various strategies across the capital structure that include syndicated leveraged loans, high yield bonds, privately negotiated senior secured debt, mezzanine investments, asset-based leasing, and private equity. The scale and breadth of HPS’s platform offers the flexibility to invest in companies large and small, through standard or customized solutions. HPS was originally formed as a division of Highbridge Capital Management within J.P. Morgan Asset Management, where it was known as Highbridge Principal Strategies. In March 2016, the principals and employees of HPS acquired the firm from Highbridge and J.P. Morgan Asset Management. hpspartners.com

HPS Investment Partners Investments

102 Investments

HPS Investment Partners has made 102 investments. Their latest investment was in OneTeam Partners as part of their Private Equity - II on September 9, 2022.

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HPS Investment Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/15/2022

Private Equity - II

OneTeam Partners

Yes

3

7/1/2022

Private Equity - II

Yesway

$190M

Yes

1

5/6/2022

Debt

SimpliSafe

$200M

Yes

5

3/8/2022

Debt

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$99M

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10

12/15/2021

Private Equity

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$99M

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10

Date

9/15/2022

7/1/2022

5/6/2022

3/8/2022

12/15/2021

Round

Private Equity - II

Private Equity - II

Debt

Debt

Private Equity

Company

OneTeam Partners

Yesway

SimpliSafe

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Amount

$190M

$200M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

3

1

5

10

10

HPS Investment Partners Portfolio Exits

34 Portfolio Exits

HPS Investment Partners has 34 portfolio exits. Their latest portfolio exit was Kobalt Music Group on September 07, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/7/2022

Acq - Fin

$99M

4

4/13/2022

Acq - Fin

$99M

1

12/1/2020

Acq - Fin

$99M

10

12/18/2019

Acquired

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$99M

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10

5/15/2019

Asset Sale

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$99M

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10

Date

9/7/2022

4/13/2022

12/1/2020

12/18/2019

5/15/2019

Exit

Acq - Fin

Acq - Fin

Acq - Fin

Acquired

Asset Sale

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

4

1

10

10

10

HPS Investment Partners Acquisitions

10 Acquisitions

HPS Investment Partners acquired 10 companies. Their latest acquisition was Spectrum Automotive Holdings on January 12, 2023.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

1/12/2023

$99M

Acq - Fin

1

3/29/2022

$99M

Acq - Fin

2

1/20/2022

$99M

Take Private

2

1/12/2022

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$99M

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10

11/19/2018

Debt

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$99M

$99M

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10

Date

1/12/2023

3/29/2022

1/20/2022

1/12/2022

11/19/2018

Investment Stage

Debt

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$99M

Note

Acq - Fin

Acq - Fin

Take Private

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Sources

1

2

2

10

10

HPS Investment Partners Fund History

21 Fund Histories

HPS Investment Partners has 21 funds, including HPS Mezzanine Partners 2019 Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/5/2020

HPS Mezzanine Partners 2019 Fund

$11,000M

1

4/20/2020

European Asset Value Fund II

$1,500M

1

5/1/2019

HPS Mezzanine Private Investors 2019 LLC

Mezzanine

Open

$844M

1

4/10/2019

Hinode Direct Lending 2017 Fund LP

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$99M

10

12/28/2018

Opportunistic CLO Fund II LP

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$99M

10

Closing Date

10/5/2020

4/20/2020

5/1/2019

4/10/2019

12/28/2018

Fund

HPS Mezzanine Partners 2019 Fund

European Asset Value Fund II

HPS Mezzanine Private Investors 2019 LLC

Hinode Direct Lending 2017 Fund LP

Opportunistic CLO Fund II LP

Fund Type

Mezzanine

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Status

Open

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Amount

$11,000M

$1,500M

$844M

$99M

$99M

Sources

1

1

1

10

10

HPS Investment Partners Partners & Customers

2 Partners and customers

HPS Investment Partners has 2 strategic partners and customers. HPS Investment Partners recently partnered with Madison Dearborn Partners on December 12, 2016.

Date

Type

Business Partner

Country

News Snippet

Sources

12/5/2016

Partner

United States

HPS Investment Partners to Invest in NFP

NEW YORK , December 5 , 2016 -- NFP Corp. , a leading insurance broker and consultant that provides employee benefits , property & casualty , retirement and individual private client solutions , announced today that it has entered into a definitive agreement with HPS Investment Partners , LLC , a leading global investment firm , whereby HPS Investment Partners , LLC will make a substantial minority investment in NFP Corp. .

4

1/4/2012

Partner

United States

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10

Date

12/5/2016

1/4/2012

Type

Partner

Partner

Business Partner

Country

United States

United States

News Snippet

HPS Investment Partners to Invest in NFP

NEW YORK , December 5 , 2016 -- NFP Corp. , a leading insurance broker and consultant that provides employee benefits , property & casualty , retirement and individual private client solutions , announced today that it has entered into a definitive agreement with HPS Investment Partners , LLC , a leading global investment firm , whereby HPS Investment Partners , LLC will make a substantial minority investment in NFP Corp. .

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Sources

4

10

HPS Investment Partners Service Providers

3 Service Providers

HPS Investment Partners has 3 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Take Private

Counsel

General Counsel

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Service Provider

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Associated Rounds

Take Private

Provider Type

Counsel

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Service Type

General Counsel

Partnership data by VentureSource

HPS Investment Partners Team

25 Team Members

HPS Investment Partners has 25 team members, including current Chief Executive Officer, Scott Kapnick.

Name

Work History

Title

Status

Scott Kapnick

Chief Executive Officer

Current

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Name

Scott Kapnick

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Work History

Title

Chief Executive Officer

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Status

Current

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