HPS Investment Partners said Sept. 19 that it reached an agreement with Tålamod Asset Management LLC to acquire its entire team. The deal includes Tålamod’s investment and non-investment staff, a spokeswoman said. Tålamod, a Dallas asset manager, will remain separate.
NEW YORK, Sept. 19, 2018 /PRNewswire/ — HPS Investment Partners (“HPS” or the “Firm”), a leading global credit investment manager with over $46 billion in assets under management, today announced that it has reached an agreement with Tålamod Asset Management, LLC (“Tålamod”), a Dallas-based asset management firm specializing in distressed credit. As part of the agreement, HPS will retain Tålamod’s investment team and other employees who will continue to be based in Dallas.
“We are continually focused on preserving our investors’ capital while identifying investments that deliver attractive risk adjusted returns,” said Scott Kapnick, Chief Executive Officer of HPS. “Tålamod’s expertise and proven track record are highly complementary to our existing, seasoned team of investment professionals. This combination provides us with an even greater ability to tap into a broader array of opportunities.”
Andersen Fisher, Founder and Managing Member of Tålamod, said “HPS is a world-class firm with incredible credit investing expertise that gives it broad reach across market segments and geographies, and an unrivaled knowledge of nearly all private credit transactions completed over the past five years. We are incredibly excited about the opportunity to leverage HPS’ unique capabilities to find compelling and differentiated distressed investment opportunities both in the current market environment and during the next major distressed cycle.”
As part of Tålamod’s integration into HPS, Andersen Fisher will join the Firm as a Managing Director. Kyle Mapes and Jay Steen, who joined Tålamod in 2008 as investment professionals shortly after Mr. Fisher founded the firm, will join HPS as Executive Directors. All employees of Tålamod will become HPS employees in the fourth quarter of 2018, following the return of capital from its current funds.
Earlier this year, Rick Morris joined the Firm as a Managing Director in London to focus on expanding HPS’ footprint across distressed investing. Prior to joining HPS, Mr. Morris was Head of EMEA Distressed Research and Co-Head of EMEA Distressed Trading at Goldman Sachs. Colbert Cannon, who joined HPS in New York as a Managing Director in 2017, will continue to spearhead the Firm’s investment efforts for special situations in private credit along with Chris Stainton in Europe.
About HPS Investment Partners
HPS Investment Partners is a leading global investment firm that seeks to provide creative capital solutions and generate attractive risk-adjusted returns for our clients. We manage various strategies across the capital structure that include syndicated leveraged loans and high yield bonds to privately negotiated senior secured debt and mezzanine investments, asset-based leasing and private equity. The scale and breadth of our platform offers the flexibility to invest in companies large and small, through standard or customized solutions. At our core, we share a common thread of intellectual rigor and discipline that enables us to create value for our clients, who have entrusted us with over $46 billion of assets under management as of September 2018. For more information, please visit www.hpspartners.com.