HPS Investment Partners raises $6.6bn

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HPS Investment Partners has raised $6.6 billion for its Highbridge Principal Strategies – Mezzanine Partners III. The New York-headquartered firm began fundraising in 2015 with a $5.5 billion target.

Its previous fund raised $5.2 billion in 2013.

Investors that committed to Highbridge Principal Strategies – Mezzanine Partners III include the Teachers' Retirement System of Louisiana.

The fund will target subordinated/mezzanine debt opportunities in a diverse number of sectors in North America and Europe.