HPS, Atlantic Park and Morgan Stanley Recapitalize OneTeam Partners as RedBird Exits

BlackRock Acquires HPS Investment Partners

October 14, 2025

Financial Services

BlackRock completed the acquisition of HPS Investment Partners in a transaction reported at about $12 billion, expanding BlackRock’s private credit and alternative asset capabilities. The deal brings HPS’s sizable private markets platform (reported as roughly $157–165 billion of AUM in sources) into BlackRock’s platform and bolsters its private markets and private credit scale.

BlackRock Acquires HPS Investment Partners

July 1, 2025

Financial Services

BlackRock has completed its acquisition of HPS Investment Partners and is creating a combined Private Financing Solutions (PFS) platform that integrates BlackRock’s public fixed income capabilities with HPS’s private credit, GP/LP, and CLO businesses. The combined PFS franchise will manage approximately $190 billion in client assets for private credit and maintain HPS branding as “HPS, a part of BlackRock,” with HPS CEO Scott Kapnick joining as an observer to the BlackRock board.

HPS Investment Partners Acquires Majority Stake in SGS & Co

May 1, 2023

Marketing & Advertising

HPS Investment Partners has completed a transaction to acquire a majority equity stake in SGS & Co, a global provider of technology-enabled brand design, digital marketing, and packaging artwork services. The deal restructures SGS's capital structure with substantial debt reduction and positions the company to accelerate investments in technology, automation, and service expansion.

Strength Capital Partners and Neuberger Berman Recapitalize ESP Associates

July 9, 2025

Engineering Services

Strength Capital Partners closed a single-asset continuation vehicle to recapitalize ESP Associates, providing liquidity to Strength Capital’s existing investors and bringing in follow-on capital led by investment funds affiliated with Neuberger Berman. The transaction includes significant rollover by SCP and the ESP management team and is intended to fund organic growth and strategic add-on M&A to expand the platform’s geographic footprint and service offerings.

SV Health Investors Recapitalizes Health Payment Systems

February 3, 2021

Healthcare Services

SV Health Investors has completed a recapitalization of Caltius Equity Partners' investment in Health Payment Systems (HPS). The investment will support HPS' expansion in the Upper Midwest and beyond and includes leadership additions with Tom Policelli named CEO and Tom Flynn joining HPS' board.

RedBird Capital Partners and StepStone Acquire Majority Stake in Talent Systems

July 19, 2022

Media & Entertainment

RedBird Capital Partners, alongside StepStone Group, acquired a majority stake in Talent Systems from Caltius Equity Partners, with Caltius remaining a minority investor. The investment will support scaling Talent Systems' tech-driven casting marketplace and expand its capabilities across film, television, commercials, theater and digital productions; the deal closed on August 4, 2022.