Private-Credit Firm HPS Launches New BDC Fund for Individuals

HPS Investment Partners has launched a new fund to attract individual investors to its direct-lending strategy, the latest private-credit firm to expand its reach to people looking for higher-yielding investments.

The firm, headquartered in New York, will have $1.2 billion to invest from the new private business development company called HPS Corporate Lending Fund, according to a statement seen by Bloomberg. It will use that money to provide floating-rate senior-secured loans to middle-market companies, including those owned by private equity, and has already deployed about $660 million of that.

“There is a clear need for investment strategies that provide income-focused ...