Citi, HPS Investment Partners announce EUR 15B Private Capital Program

Citigroup (C) and HPS Investment Partners, a part of BlackRock (BLK), announced a EUR 15B Private Capital Program, a strategic collaboration to expand comprehensive capital solutions and access to private financing for corporate and sponsor-owned borrowers in the region.The Program intends to finance EUR 15B of debt opportunities in EMEA over an initial five-year term. Under the terms of the initiative, Citi will leverage its extensive Investment, Corporate, and Commercial Bank led origination capabilities to source investment opportunities for the Program, which is designed to serve borrowers with principal business based in Continental Europe, the UK, and eventually the Middle East. Eligible opportunities will comprise a broad range of sub-investment grade debt instruments.