Private markets investment firm HPS Investment Partners, which spun out of J.P. Morgan Asset Management in 2016, is pitching a new junior debt fund to investors, weeks after collecting $11.7bn for a separate fund focused on specialty loans.
The New York-based firm’s latest fund, HPS Strategic Investment Partners V LP, which invests in junior debt in North American and European companies, has a target of $9.5 billion, according to documents from Teachers’ Retirement System of Louisiana, which committed $100m.
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HPS was founded in 2007, to focus on credit and longer-dated less liquid investment opportunities. It was originally formed as a division of Highbridge Capital Management within J.P. Morgan Asset Management and known as Highbridge Principal Strategies.
Source: Wall Street Journal
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