HPS Funding Companions is believed to be contemplating an preliminary public providing.
In accordance with Bloomberg, the non-public credit score supervisor has begun discussing the small print of an IPO with potential buyers.
Final yr, Bloomberg reported that HPS had confidentially filed paperwork with the US Securities and Alternate Fee in expectation of an IPO. In accordance with sources with information of the matter, the agency might publicly disclose its financials as quickly as subsequent week.
A possible itemizing might worth the corporate at greater than $10bn (£7.9bn).
Learn extra: HPS raises $10bn for second Core Senior Lending Fund
HPS had roughly $117bn in belongings beneath administration as of June 2024.
It was based in 2007 by Scott Kapnick, Scot French and Mike Patterson, because the non-public fairness and credit score funding division of JPMorgan’s Highbridge Capital Administration division. Kapnick stays chief govt right now.
In 2016, the agency purchased itself out of JPMorgan in a deal that valued it at virtually $1bn .
Since then, HPS has seen phenomenal development, turning into one of many prime non-public credit score corporations on the earth.
Learn extra: HPS raises $21.1bn for personal credit score fund
Earlier this yr, the agency closed its second Core Senior Lending Fund (CSL II) and parallel funding funds with round $10bn raised.
A couple of months later, HPS was pressured to restrict inflows into its $10bn HPS Company Lending Fund on account of a surge in demand from excessive internet price people.
In June, the New York-headquartered asset administration agency raised $21.1bn for a brand new non-public credit score fund, its largest fundraising to this point.
Learn extra: HPS limits non-public credit score fund inflows amid surging demand