HPS Investment’s Mezzanine Partners Fund III raises $6.6 billion

By Tali Rackner

Norfolk, Va., Dec. 20 – HPS Investment Partners, LLC completed fundraising for its Mezzanine Partners Fund III with total capital of $6.6 billion, according to a press release.

The total amount exceeds the initial target of $5.5 billion.

The fund will mainly invest in junior debt and equity securities across a wide range of industries with a focus on North America and Western Europe, consistent with its 2013 predecessor fund, Mezzanine Partners Fund II, which held its final close in March 2013 with $4.4 billion of commitments, the release said. Mezzanine Partners Fund II completed its investment period in June.

"We continue to see growing demand for creative, flexible capital solutions from our corporate and private equity partners seeking scale and certainty for their financing needs," Scot French, HPS partner and head of its mezzanine fund, said in the release.

"We are grateful for the enthusiastic support that we have received from both existing and new investors and look forward to delivering on our core objectives of generating attractive risk-adjusted returns while focusing on preservation of capital."

The subsidiary of Highbridge Capital Management, LLC is based in New York City.

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