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HPS Corporate Lending Fund

What Do They Do?

Lends to private U.S. companies through newly originated senior secured loans, focusing on established upper-middle-market borrowers.

How Do They Make Money?

Borrowers generally pay interest on debt investments monthly or quarterly; the fund also earns loan-related fees, dividends on equity investments, and capital gains from its portfolio.

FY2025 revenue

Who Are Their Customers?

Investors can purchase common shares through the ongoing registered offering handled by HPS Securities, the managing dealer; the fund may also make private share offerings.

Do Revenues Turn Into Profits?

Yes. It kept 83 cents of every revenue dollar as net income in FY2025.

Net income, FY2025
83% of revenue
▲ +12% vs FY2024 ($838.9M, 109%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▲ +13%
vs $268.9M in Q2 FY2025
Net income
▼ −27%
vs $157.2M in Q2 FY2025

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