Lunate earmarks USD 1 bn to anchor global investment platform with Blackrock-owned HPS

Abu Dhabi-based asset manager Lunate will commit USD 1 bn to anchor the launch of HPS Strategic Solutions Partners Platform with BlackRock-owned global alternative investment firm HPS Investment Partners, according to a statement. HPS, which had USD 165 bn in assets under management as of June, and Lunate, which manages USD 110 bn, are co-creating the platform, Reuters reported.

The platform will target large-scale investments in major companies across the US and Europe, and provide customized financing solutions to support their strategic growth objectives. It will focus on privately negotiated preferred and common equity investments, as well as related debt instruments, in both sponsor and non-sponsor owned corporations. The companies said they will also work together to provide MENA-based investors access to the new platform, as they seek to capitalize on growing global demand for private credit.

Lunate and Blackstone have other partnerships in the works: The asset manager formed a strategic partnership with alternative asset manager Blackstone to develop a new platform earlier this year to build a USD 5 bn portfolio of Grade A logistics assets across the GCC.