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Private Equity
FINANCIAL | Investment Firms & Funds
hpspartners.com

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Investments

92

Portfolio Exits

31

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.

HPS Investment Partners Headquarter Location

40 West 57th Street 33rd Floor

New York, New York, 10019,

United States

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Latest HPS Investment Partners News

Non-Traded REITs Now Projected to Raise $35 Billion in 2021 After Record-Breaking Month

Sep 24, 2021

Non-Traded REITs Now Projected to Raise $35 Billion in 2021 After Record-Breaking Month Sales of non-traded real estate investment trusts broke another all-time monthly record in August after raising nearly $3.69 billion, according to Robert A. Stanger and Co., marking the third consecutive month over the $3 billion mark. September 24, 2021 DIRECTORY SPOTLIGHT Sales of non-traded real estate investment trusts broke another all-time monthly record in August after raising nearly $3.69 billion, according to Robert A. Stanger and Co., marking the third consecutive month over the $3 billion mark. Blackstone Real Estate Income Trust continues to dominate the non-traded REIT space with $2.44 billion raised this month. Starwood reported $647 million as it continues to record strong month-over-month gains, while Black Creek Group, now owned by Ares, reported $179 million. “Non-traded REIT fundraising through August has reached $21.3 billion dollars, which surpasses the prior full-year record of $19.6 billion set back in 2013. This incredible pace of capital formation continues to attract new entrants to the space with Prudential (PGIM Investments) registering an offering at the end of August,” said Randy Sweetman, Stanger’s executive managing director. Kevin Gannon, chairman and chief executive officer, said that Stanger is now raising its 2021 non-traded REIT fundraising projection to $35 billion and bumping its estimate of fundraising for all alternative investments to $70 billion. Stanger previously projected that non-traded REITs would raise $30 billion this year, while retail alternative investments were expected to raise $65 billion. Gannon said that the projection increase was influenced by “the record-breaking influx of capital into non-traded REITs and [business development companies], and continued improvements in fundraising for interval funds and [Delaware statutory trusts].” Blackstone Group leads 2021 REIT fundraising with nearly $14.80 billion, followed by Starwood Capital with $3.58 billon. Black Creek Group/Ares reported $1.12 billion in sales, followed by FS Investments ($432 million), Nuveen LLC ($387 million), and Hines Interest ($312 million). In the non-traded business development company space, Blackstone Private Credit Fund, the first perpetual-life BDC, raised $1.39 billion in August bringing year-to-date 2021 fundraising to $8.31 billion. Blue Owl Capital raised $134 million in August bringing their year-to-date 2021 fundraising total to $499 million, including $73.3 in their traditional BDC, which is now closed. Stanger noted that the non-traded perpetual-life BDC space continues to grow, with new deals from Apollo and HPS Investment Partners in the registration pipeline. Stanger’s survey of top sponsors of alternative investments revealed more than $49 billion raised year-to-date through August via the retail pipeline. Alternative investments included in the survey are publicly registered non-traded REITs, non-traded business development companies, interval funds, non-traded preferred stock of traded REITs, as well as Delaware statutory trusts, opportunity zone funds, and other private placement offerings. The top alternative investment sponsors identified by Stanger are Blackstone Group ($23.14 billion), Starwood Capital ($3.58 billion), Black Creek/Ares ($1.44 billion), Bluerock Capital ($1.03 billion), Griffin Capital ($848 million), Blue Owl Capital ($738 million), Inland Real Estate ($711 million), Greenbacker Capital ($687 million), CION Investments ($606 million), and FS Investments ($566 million). Founded in 1978, Robert A. Stanger & Co. Inc. is a national investment banking firm specializing in providing investment banking, financial advisory, fairness opinion and asset and securities valuation services to partnerships, REITs, real estate advisory and management companies in support of strategic planning and execution, capital formation and financings, mergers, acquisitions, reorganizations and consolidations.

HPS Investment Partners Investments

92 Investments

HPS Investment Partners has made 92 investments. Their latest investment was in Thrasio as part of their Debt - III on September 9, 2021.

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HPS Investment Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/21/2021

Debt - III

Thrasio

$650M

Yes

BlackRock, Goldman Sachs Asset Management, J.P. Morgan Chase & Co., Oaktree Capital Management, and Undisclosed Investors

1

9/20/2021

Series B

Saviynt

$130M

Yes

PNC Financial Services Group

3

6/25/2020

Recap

Mood Media

$240M

Yes

3

6/22/2020

Loan

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$99M

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10

5/15/2020

PIPE

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$99M

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10

Date

9/21/2021

9/20/2021

6/25/2020

6/22/2020

5/15/2020

Round

Debt - III

Series B

Recap

Loan

PIPE

Company

Thrasio

Saviynt

Mood Media

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Amount

$650M

$130M

$240M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

BlackRock, Goldman Sachs Asset Management, J.P. Morgan Chase & Co., Oaktree Capital Management, and Undisclosed Investors

PNC Financial Services Group

Sources

1

3

3

10

10

HPS Investment Partners Portfolio Exits

31 Portfolio Exits

HPS Investment Partners has 31 portfolio exits. Their latest portfolio exit was Mood Media on December 01, 2020.

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

12/1/2020

Acq - Fin

Vector Capital

10

12/18/2019

Acquired

Updater

2

5/15/2019

Asset Sale

$991

Salon.com LLC

3

00/00/0000

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10

00/00/0000

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$991

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10

Date

12/1/2020

12/18/2019

5/15/2019

00/00/0000

00/00/0000

Exit

Acq - Fin

Acquired

Asset Sale

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Companies

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Valuation

$991

$991

Acquirer

Vector Capital

Updater

Salon.com LLC

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Sources

10

2

3

10

10

HPS Investment Partners Acquisitions

7 Acquisitions

HPS Investment Partners acquired 7 companies. Their latest acquisition was Marlin Business Services on April 19, 2021.

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

4/19/2021

Acq - Pending

1

11/19/2018

Unattributed - II

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$99M

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10

9/19/2018

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$99M

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10

7/6/2018

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$99M

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10

8/18/2017

Acquired - II

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$99M

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10

Date

4/19/2021

11/19/2018

9/19/2018

7/6/2018

8/18/2017

Investment Stage

Unattributed - II

Acquired - II

Companies

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Valuation

Total Funding

$99M

$99M

$99M

$99M

Note

Acq - Pending

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Sources

1

10

10

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

$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

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

Madison Dearborn Partners

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

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10

Date

12/5/2016

1/4/2012

Type

Partner

Partner

Business Partner

Madison Dearborn Partners

Country

United States

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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

Acq - Pending

Counsel

General Counsel

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Service Provider

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Associated Rounds

Acq - Pending

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Provider Type

Counsel

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Service Type

General Counsel

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Partnership data by VentureSource

HPS Investment Partners Team

24 Team Members

HPS Investment Partners has 24 team members, including current Chief Executive Officer, Scott Kapnick.

Name

Work History

Title

Status

Scott Kapnick

Chief Executive Officer

Current

Lars Berg

President

Current

Doris Lee-Silvestri

GSO Capital Partners, J.P. Morgan & Co., and BlackRock

Chief Financial Officer

Current

Andrew Eiler

Highbridge Capital Management

Chief Technology Officer, Managing Director

Current

Joseph Virgilio

Chief Compliance Officer, Managing Director

Current

Name

Scott Kapnick

Lars Berg

Doris Lee-Silvestri

Andrew Eiler

Joseph Virgilio

Work History

GSO Capital Partners, J.P. Morgan & Co., and BlackRock

Highbridge Capital Management

Title

Chief Executive Officer

President

Chief Financial Officer

Chief Technology Officer, Managing Director

Chief Compliance Officer, Managing Director

Status

Current

Current

Current

Current

Current

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