BlackRock’s HPS Investment Partners and Citigroup established a €15 billion ($17.5 billion) direct lending program. This five-year Private Capital Program targets corporate and sponsor-owned borrowers across Europe, the Middle East, and Africa.
Citigroup will originate investment opportunities for sub-investment-grade debt instruments using its global client network. HPS Investment Partners provides the capital and structuring expertise for these tailored financing solutions.
The partnership reflects growing institutional demand for private credit assets. BlackRock shares rose 0.5% in midday trading on May 18 following the announcement.