BlackRock rockets up after HPS buyout
After its acquisition of HPS, BlackRock has risen from 18th place to seventh in the US BSL AUM table. The highest-profile faller is UBS, which dropped out of the top 10. It was top in 2024

Private credit incentivized to seek more protection than BSL
With the First Brands fallout still in the headlines, private credit managers sought to differentiate themselves from the banks that underwrote the troubled auto lender

HPS resets, upsizes private credit CLO
The debt tranches in the deal were upsized by USD 255m, to a total of USD 578m, in an issue arranged by Bank of America

HPS partners with Vistina on investment grade ABF
The new collaboration will give HPS parent company BlackRock greater access to the growing ABF market for its investors

BlackRock plans private markets LifePath retirement fund for 2026
The asset manager, which closed its HPS acquisition earlier this month, looks to launch its own proprietary private-public market target date fund

Virginia, New Mexico among pension systems making new private credit commitments
Virginia Retirement System allocates USD 500m under credit strategies portfolio, while New Mexico State Investment Council allocates USD 250m to Fortress Investment Group and Indiana Public Retirement System commits USD 200m to HPS

Two-year-old HPS reset cuts AAA spread by 87bps
The reset of HPS Loan Management 2023-18 lowered the overall cost of capital by more than 113bps

HPS prints new private credit CLO with triple As at 165
The deal is the second mid-market issue for HPS so far this year

HPS issues third new US BSL CLO for 2025
The manager priced the half-billion-dollar transaction on Friday with triple As at SOFR plus 143bps

Private credit managers consider smaller fund targets
ANALYSIS: Some private credit managers are considering a smaller fundraise, bucking the convention of always aiming for bigger funds 

HPS issues new BSL CLO with AAAs at SOFR plus 115bps
The second deal from the manager so far this month printed with triple-A coupons 3bps tighter than the first  

HPS's massive deal sets new low for private credit CLO spreads
HPS has priced its first new private credit CLO since its purchase by BlackRock, clearing a massive USD 1.25bn deal 

HPS deal is expensive but catapults BlackRock into private credit top five
BlackRock is poised to become one of the largest private credit managers in the world after agreeing to buy private credit manager HPS Investment Partners at a rich 30x multiple

BlackRock acquires HPS in USD 12bn deal
BlackRock has acquired HPS Investment Partners for USD 12bn in an all-stock transaction, creating a private credit franchise with a combined USD 220bn in client assets

HPS prints fourth new US BSL CLO of 2024
HPS Investment Partners has printed its fourth new US BSL CLO of the year: a USD 403.75m deal dubbed HPS Loan Management 2024-22

Post-reinvestment 2015 US BSL CLO from HPS gets a partial refi
HPS has priced a partial refinancing of HPS Loan Management 5-2015, a CLO that was reset in October 2018, and has been out of reinvestment for a year

Guardian transfers USD 30bn of assets to HPS as partnership deepens
Insurance company Guardian will increase its minority equity stake in HPS and transfer USD 30bn of assets as part of expanded strategic partnership 

HPS adds a loan tranche in refi of 2021 triple-C flex CLO
HPS Investment Partners last week refinanced a triple-C flex US BSL CLO from 2021, restructuring the top of the stack to add a loan tranche.

HPS closes one of the largest direct lending funds ever
HPS held the final close of its Specialty Loan Fund VI, or SLF VI, together with parallel funds and accounts, having raised USD 21.1bn in investable capital

HPS refinances 2018 vintage CLO with 113bps spread for triple-As
HPS Investment Partners has priced a partial refi of HPS Loan Management 13-2018, a US BSL CLO from the pre-COVID period

HPS prices its second US BSL CLO of the year
HPS Investment Partners this week priced its second US BSL CLO of 2024, a USD 407.96m deal called HPS Loan Management 2024-20

HPS returns to broadly syndicated market with a new US CLO
The end of last week saw HPS Investment Partners price its first broadly syndicated US CLO of the year 

HPS prices new private credit CLO
This week has seen increasing amounts of deal flow emerging in middle market CLOs, and HPS Investment Partners joined in on Wednesday, pricing its first deal of 2024

HPS teams up with Bank of America to print its second middle market CLO
HPS Investment Partners has teamed up with Bank of America to print a middle market CLO named HLEND CLO 2023-1, its second entry into the private credit CLO space

New Mexico State Investment Council plans to commit $600 million to private credit
New Mexico State Investment Council commits $600 million to two private credit managers during June meeting.