HPS Investment Partners and Vistina, a subsidiary of Hoplon Capital, have collaborated to offer investment-grade asset-based financing solutions to corporate borrowers.
HPS, which was acquired by BlackRock last year, and Vistina aim to bring investment grade securitisation solutions to new borrowers and industries, while expanding investors’ access to esoteric and non-traditional asset classes.
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The two firms said that the structural and economic benefits of asset-based financing solutions present “a compelling opportunity” for both corporate borrowers and investors, resulting in a “substantial” expansion of the addressable market.
Vistina comprises Vistina Structured Credit Advisory and Vistina Advisory, and serves clients seeking differentiated advice relating to private, structured credit solutions involving esoteric or non-traditional assets and strategic transactions.
Credit-focused alternative investment firm HPS manages various strategies across the capital structure, including privately negotiated senior debt, privately negotiated junior capital solutions in debt, preferred and equity formats, liquid credit, such as syndicated leveraged loans, collateralized loan obligations and high yield bonds, asset-based finance and real estate.
The collaboration will enable proprietary access to asset-based finance for BlackRock’s investors.
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“This engagement reflects HPS’s focus on utilising its ability to provide borrowers with bespoke financing solutions to continue delivering attractive opportunities for investors,” said Scott Kapnick, chair of the BlackRock Private Financing Solutions executive office and chief executive of HPS.
The combined capabilities of Vistina, Hoplon and HPS will “create a leading player”, according to Robert Arsov, founder and chief executive of Hoplon Capital.
“This is a truly unique time in the market, where the applicability of asset-backed financing is rapidly evolving and expanding the addressable universe of borrowers that can access the unique benefits of a securitisation,” he added.
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