Goldman Banker Set to Join HPS to Lend to Private Equity Firms

Private credit specialist HPS Investment Partners has made a key hire for a team focused on lending to buyout firms eager for new ways to raise additional cash.

James Lumby, who left his position as a managing director at Goldman Sachs Group Inc. in recent weeks, will join HPS to help provide liquidity to private equity firms, according to three people familiar with the matter, who declined to be identified while discussing a move that hasn’t been made public. One area he’ll be focusing on is so-called NAV financing, a growing niche in credit that allows private equity firms -- ...