HPS, a Part of BlackRock
HPS is a global credit platform investing across privately negotiated senior debt, junior capital, preferred and equity-linked solutions, asset-based finance, real estate, liquid credit, and CLOs.
- Global private credit and alternative lending manager
- Private Credit Market Leaders
- Tier II
Overview
HPS is a global credit platform investing across privately negotiated senior debt, junior capital, preferred and equity-linked solutions, asset-based finance, real estate, liquid credit, and CLOs. BlackRock completed its acquisition in 2025 and combined HPS with its existing capabilities within Private Financing Solutions.
The combination created an integrated private-credit franchise with approximately $190 billion in client assets at closing, while HPS’s flagship strategies retained their branding. In 2026, BlackRock reported approximately $203 billion across its private-debt business. Within The Economy Wiki, the institution is connected to the Private Credit Market Leaders market category.
Firm facts
| Institution | HPS, a Part of BlackRock |
| Type | Global private credit and alternative lending manager |
| Headquarters | New York, United States |
| Founded | 2007 |
| Primary ranking focus | Private Credit Market Leaders |
| Highest 2026 tier | Tier II |
Activities and credit capabilities
HPS, a Part of BlackRock operates within direct lending, alternative credit and institutional financing. Its activities are assessed through the category-specific capabilities summarized below.
Direct lending
Privately originated senior, unitranche and junior financing for corporate borrowers.
Alternative credit
Asset-backed, opportunistic, liquid and specialist credit strategies.
Portfolio management
Underwriting, documentation, monitoring, restructuring and capital-solutions capabilities.
Strategy and transaction coverage
Strategy and asset coverage
Corporate direct lending; asset-backed finance; alternative credit; liquid credit; real estate and infrastructure debt
Financing and transaction contexts
Senior and unitranche loans; junior capital; opportunistic finance; portfolio acquisitions; restructurings
Market position
HPS fits Tier II because its multi-cycle investment team, global origination, and flexibility across the capital structure remain institutionally important after the ownership change. It is ranked once as an active HPS/BlackRock platform rather than duplicated under separate legacy organizations.
HPS, a Part of BlackRock is assessed within the Private Credit Market Leaders framework. For wider market context, see Private Credit’s Trillion-Dollar Growth Meets Its AI Debt Test.
Competitive context
HPS, a Part of BlackRock is recognized Tier II in Top 30 Private Credit Market Leaders 2026; Tier II in Top 30 Strategic Credit & Capital Solutions 2026; Tier III in Top 30 Structured Credit & Capital Markets 2026. The rankings compare institutions by market relevance, origination or operating capability, underwriting or platform depth, institutional credibility and current activity. Comparable links support navigation and do not imply that every institution competes for every financing or mandate.
Leadership and governance
Leadership, investment-committee composition and operating resources may change over time. Current information should be confirmed through HPS, a Part of BlackRock’s official website.
| Leadership area | Current source |
|---|---|
| Investment and operating leadership | Current team and governance information |
Corporate and public information
This profile refers to HPS, a Part of BlackRock as the public-facing organization. Individual funds, management companies, advisers, lending entities and regulated affiliates may use separate legal names across jurisdictions.
Corporate and disclosure information
| Organization | HPS, a Part of BlackRock |
| Headquarters | New York, United States |
| Public website | www.hpspartners.com |
| Profile basis | Public institutional information and Capital Ranking editorial research |
Ranking recognition
Related Economy analysis
Selected Economy Markets articles provide context for the lending, financing, diligence and private-market themes relevant to this institution:
- Private Credit’s Trillion-Dollar Growth Meets Its AI Debt Test
- Private Credit Lending Models as Banks Retreat
- Middle-Market Private Equity: Returns, Scale and Manager Selection
- Private Equity Technology Due Diligence in the AI Era
