Scott Kapnick

Scott Kapnick co-founded HPS Investment Partners with Michael Patterson after departing Goldman Sachs, where he had been head of global finance. HPS grew to become one of the largest independent private credit managers, with assets exceeding $100 billion across direct lending, leveraged credit, real assets, and specialty finance. The rise of HPS reflects the structural shift in capital markets as regulations pushed banks away from leveraged lending, creating space for private credit managers to fill the gap. HPS was acquired by BlackRock in 2024 for approximately $12 billion. The acquisition by BlackRock reflected both the scale HPS had achieved and the strategic imperative for traditional asset managers to build substantial private credit capabilities as investors increasingly allocate capital to direct lending and other forms of non-bank financing.