HPS Investment Partners, LLC

What HPS Investment Partners, LLC does

HPS Investment Partners, LLC is a global alternative credit investment manager headquartered in New York, operating across three platforms: Corporate-Focused Private Credit (~131B USD AUM), Asset-Based Finance (~39B USD AUM), and Liquid Credit (~27B USD AUM), for total assets under management of approximately $197 billion as of June 30, 2026. The Corporate-Focused Private Credit platform provides capital solutions spanning performing senior secured, junior capital, and special situations to upper-middle-market and large corporations in developed markets; the Asset-Based Finance platform offers privately negotiated asset-backed financing across hard assets (real estate, infrastructure, equipment) and financial assets (intellectual property, investment fund assets); and the Liquid Credit platform runs fundamentally driven strategies in non-investment-grade syndicated loans, corporate bonds, and securitized credit globally.

The firm is staffed by a 262-person private credit investment team (shared with Asset-Based Financing) and a 31-person liquid credit team, supported by a 15-office global footprint with locally regulated entities in the US, UK, Luxembourg, Singapore, Hong Kong, and Australia. Since inception, HPS has cumulatively deployed approximately $219 billion across nearly 1,100 private credit investments and covers 700+ corporate credits within its Liquid Credit platform, reflecting a diversified sourcing model that combines proprietary origination, intermediary networks, and balance-sheet scale.

HPS generates revenue through management fees and performance fees negotiated with institutional investors and financial advisors across pension funds, insurance companies, sovereign wealth funds, foundations, endowments, private banks, wealth managers, and family offices. The firm was recently acquired by BlackRock, Inc., under whose group oversight HPS now operates as a subsidiary with BlackRock executive management committees providing oversight alongside HPS leadership. The firm's stated differentiators are its multi-cycle track record, breadth of investment solutions, tenured investment team, and long-term partnership approach with both investors and the companies it finances.

Name

HPS Investment Partners, LLC

Legal name

HPS Investment Partners, LLC

Website

https://hpspartners.com

Company type

Private

Founded year

2007

Operating status

Operating

Short description

HPS Investment Partners is a New York–headquartered global alternative credit manager with ~$197B AUM across private credit, asset-based finance, and liquid credit strategies, serving institutional investors and financial advisors, and now operating as a subsidiary of BlackRock, Inc.

Ownership category

akta.pro rank

Product category

Alternative Credit Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Private Credit / Direct Lending (FSAAAHAG)

akta.pro secondary industry

Alternative Investments for Private Wealth (Hedge Funds, PE/VC Access, Private Credit) (FSAAABAI)

Keywords

• Alternative credit management
• Private credit solutions
• Asset-based finance
• Corporate lending strategies
• Liquid credit investing

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Compliance, Technology or R&D, Infrastructure

Revenue model

1. Alternative Credit Asset Management: Generates revenue through management fees and performance fees from managing credit-focused investment funds across private credit, liquid credit, and asset-based finance platforms on behalf of institutional and individual investors.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

HPS Investment Partners is a global alternative credit manager that manages approximately $197 billion in assets across three primary platforms: Corporate-Focused Private Credit (~$131B AUM), Asset-Based Finance (~$39B AUM), and Liquid Credit (~$27B AUM). The firm provides tailored investment solutions to institutional investors and financial advisors spanning the risk spectrum from investment-grade to non-investment-grade, including senior secured loans, junior capital, special situations, asset-backed financing, syndicated loans, corporate bonds, and securitized credit.

Product overview

HPS Investment Partners operates as an alternative credit manager offering three primary investment solution platforms: Corporate-Focused Private Credit (~$131B AUM), Asset-Based Finance (~$39B AUM), and Liquid Credit (~$27B AUM). Together these platforms manage approximately $197 billion in assets under management. The Corporate-Focused Private Credit platform provides capital solutions spanning from performing senior secured to special situations investing for upper middle market and large corporations. The Asset-Based Finance platform offers privately negotiated asset-backed financing backed by hard assets (real estate, infrastructure, equipment) and financial assets (intellectual property, investment fund assets). The Liquid Credit platform provides actively managed strategies in non-investment grade syndicated loans, corporate bonds, and securitized credit globally.

Differentiator

Problem solved

Functional benefit

Products and services

• Corporate-Focused Private Credit

Named customers8 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Blackstone Credit & Insurance: Major alternative credit franchise within Blackstone spanning private credit, asset-based finance and CLOs — now a sister business to HPS under BlackRock/Blackstone respectively, and a leading competitor in direct lending.
• Brookfield Asset Management: Global alternative manager with large private credit and asset-based finance activities; overlaps with HPS's ABF platform and also owns Oaktree, a direct competitor in liquid and private credit.
• Carlyle Group Credit: Established alternative manager with a global credit franchise spanning private credit, CLOs and liquid credit — broader portfolio but direct overlap with HPS's Corporate Private Credit and Liquid Credit platforms.
• Goldman Sachs Asset Management Private Credit: Private credit and asset-based finance business within Goldman Sachs Asset Management; competes with HPS in upper middle-market direct lending and structured credit.
• KKR Credit: Credit arm of KKR offering leveraged loans, private credit, structured credit and special situations — broader alternative manager with significant overlap with HPS's credit platforms.

Direct peers

• Ares Management Corporation: Major publicly traded alternative asset manager with a large credit franchise spanning direct lending, liquid credit, and asset-based finance — the closest scaled peer to HPS across all three of HPS's core platforms.
• Oaktree Capital Management: Specialist alternative credit manager (now part of Brookfield) with deep expertise in high-yield bonds, leveraged loans, private credit and special situations — closely comparable to HPS's Liquid Credit and Corporate Private Credit platforms.
• Sixth Street: Private credit and asset-based finance specialist offering direct lending, specialty finance and fund finance — comparable mid-to-large scale alternative credit manager competing for similar upper middle-market borrowers.
• Bain Capital Credit: Credit-focused arm of Bain Capital providing direct lending, mezzanine, liquid credit and asset-based financing — closely comparable scope and scale to HPS's three platforms.
• Apollo Global Management: Alternative credit giant with significant private credit, asset-based finance (Athene/MidCap), and syndicated credit activities; directly overlaps HPS's Corporate Private Credit, ABF and Liquid Credit strategies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hps-investment-partners-llc

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HPS Investment Partners, LLC