Anyone familiar with HPS’ speciality lending group and what kind of deals they do? Sounds like decent mix of sponsor vs non sponsor and hairier credits with storied background.
Somewhat familiar with their rep (e.g., good investors, high holds, above market comp) but curious if anyone has any other details on the firm generally including WLB, etc.?
saw another post on this topic but not a lot of comments.
Any input on how comp scales from Associate to VP would be helpful as well
Great shop all around.
Bump, interested
Interested as well
From an objective returns basis, they are the best performing private credit manager. Their BDC outperformed all others by over 150 bps over the past year
Specialty Lending strategy focus on first lien senior secured loans. They target larger companies, with +$100mm of EBITDA. They do a combination of sponsor and non-sponsor deals (with no specific target). It is different from their Core Senior Lending strategy, in the sense that it seeks higher returns through an opportunistic approach, and more complex deals.
HPS Specialty Loan Fund VI should close in 1H24. It will be a +$9bn fund. HLEND, the BDC, targets ~1/3 in Specialty Lending strategy and ~2/3 in Core Senior Lending strategy. Busy times for HPS.
Good investors, above market comp. Horrible culture starting from VP. Highly political. Good brand for the CV though.
Mind sharing a bit more on culture? Is that pretty broad or group specific?
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