HPS Investment Partners manages debt and equity investments for private investment vehicles and separately managed accounts. HPS was acquired by BlackRock in July 2025 and now operates as a unit within BlackRock. HPS invests across various strategies, including Asia credit, CLOs, credit opportunities, real estate and leveraged loans. HPS's clients are primarily sophisticated investors, including pension funds, sovereign wealth funds, and family offices.
Fee Structure
HPS receives management fees and performance-based compensation for its advisory services. The management fee is up to 2% annually, based on invested capital, net assets, or total commitments. HPS also receives a performance-based allocation or fee of up to 20% of each client’s net profits, subject to a hurdle rate. Clients also pay operating and investment expenses.