HPS Investment Partners LLC completed fundraising for Mezzanine Partners Fund III with total capital of $6.6 billion, exceeding the initial target of $5.5 billion.
The fund will invest primarily in junior debt and equity securities across a broad set of industries with a focus on North America and western Europe.
The company's predecessor fund, Mezzanine Partners Fund II, held its final close in March 2013 with $4.4 billion of commitments. Fund II completed its investment period in June. Over the past nine years, HPS Investment Partners' mezzanine platform has invested in about 60 portfolio companies for a total of $8.8 billion.