HPS Investment Partners, LLC’s Post

Secondhand Private Credit Sets Up $15 Billion of Early Exits.Credit secondaries is a newer, developing area of the market that has emerged from the rapid growth of private credit to $1.7 trillion of assets. Credit secondaries pricing on partner-led portfolios was 88 cents to 93 cents on the dollar in the first quarter, according to PJT.

Partners Leon Stephenson and Brendan Gallen sat down with Matthias Plötz at The Drawdown to discuss the recently issued guidance for Limited Partners and General Partners on NAV-Based Facilities. You can also read our response about this topic here - https://lnkd.in/eMyEP3Pk #funds #fundformation #fundfinance #ReedSmith #ILPA #NAV #credit

Blackstone sell loans for what will likely be a 40% discount yet there is absolutely ZERO risk in #privatemarkets. no vol, no price risk, high sharpe...everybody wins with risk-free returns and can't own enough of it. If the private investments you own haven't been significantly marked down over the last 3 years and you are championing this, you are either dishonest, disingenuous, or clueless. Furthermore if you are buying into an existing pool of assets of this type you are (likely way) overpaying. If your private apartment fund is up 30% since 2022 and yet public REITs owning the same or better assets are down 20% same time, REDEEM NOW. #privateequity #privatedebt #privatecredit #privaterealestate #MICs

How will the Institutional Limited Partners Association (ILPA)'s NAV loan guidelines impact #privateequity fund formation? Together with Reed Smith LLP's Brendan Gallen and Leon Stephenson, we mused about the highly anticipated guidance's effects on LPAs. Read more here: https://lnkd.in/dHweAJpn #legal #serviceproviders #lawfirms #assetmanagement #alternativeinvestments #venturecapital #fundfinance #navloans

In this article for GLI Fund Finance, Sherri Snelson and Juliesa Edwards examine some of the key issues around concentrated NAV facilities, including how to value NAV collateral in single asset/concentrated portfolios and how lenders can ensure their ability to enforce. Read it here. https://ow.ly/tpyu50QBgow

In this article for GLI Fund Finance, Sherri Snelson and Juliesa Edwards examine some of the key issues around concentrated NAV facilities, including how to value NAV collateral in single asset/concentrated portfolios and how lenders can ensure their ability to enforce. Read it here. https://ow.ly/1uZg50QyOqb

In this article for GLI Fund Finance, Sherri Snelson and Juliesa Edwards examine some of the key issues around concentrated NAV facilities, including how to value NAV collateral in single asset/concentrated portfolios and how lenders can ensure their ability to enforce. Read it here. https://ow.ly/spVl50QyOKE

In this article for GLI Fund Finance, Sherri Snelson and Juliesa Edwards examine some of the key issues around concentrated NAV facilities, including how to value NAV collateral in single asset/concentrated portfolios and how lenders can ensure their ability to enforce. Read it here. https://ow.ly/jvLf50Qz04G

In this article for GLI Fund Finance, Sherri Snelson and Juliesa Edwards examine some of the key issues around concentrated NAV facilities, including how to value NAV collateral in single asset/concentrated portfolios and how lenders can ensure their ability to enforce. Read it here. https://ow.ly/33gI50QyYAR

In this article for GLI Fund Finance, Sherri Snelson and Juliesa Edwards examine some of the key issues around concentrated NAV facilities, including how to value NAV collateral in single asset/concentrated portfolios and how lenders can ensure their ability to enforce. Read it here. https://ow.ly/3Awl50Qz1Ll