HPS Investment Partners announced Tuesday it has closed the $6.6 billion Mezzanine Partners Fund III, above its $5.5 billion target, a news release said.
The fund, which invests in North American and Western European junior debt and equity securities, also exceeded the closing of the previous fund, the $4.4 billion Mezzanine Partners Fund II.
Investors include the $32 billion Arizona State Retirement System, Phoenix, and $16.6 billion Louisiana Teachers' Retirement System, Baton Rouge.
Officials at HPS could not be immediately reached to provide further information.
