HPS Investment Partners, LLC (HPS) is an American investment firm headquartered in New York City. The firm focuses on investments in private credit, public credit, private equity and real assets. In 2025, HPS was ranked by Private Debt Investor as the second largest private debt investment company based on total fundraising over the most recent five-year period.[3] In 2025, HPS became a subsidiary of BlackRock.
History
In 2007, Scott Kapnick, Scot French and Michael Patterson founded Highbridge Principal Strategies after leaving Goldman Sachs. It was formed as the private equity and credit investment division of Highbridge Capital Management (Highbridge) within J.P. Morgan Asset Management. Its strategies included mezzanine capital, bonds, direct lending and growth capital.[4][5]