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Money Management

HPS to acquire Talamod Asset Management team

HPS Investment Partners has agreed to lift out the staff of distressed credit manager Talamod Asset Management, confirmed HPS spokeswoman Kate Sylvester.

Financial terms of the deal were not disclosed.

All five Talamod employees will become HPS employees in the fourth quarter, once Talamod liquidates its current funds and returns the capital to clients. Talamod's assets under management could not immediately be learned.

Talamod's team will continue to be based in Dallas.

Andersen Fisher, Talamod's founder and managing member, will join HPS as a managing director. Kyle Mapes and Jay Steen, investment professionals at Talamod, will join HPS as executive directors.

HPS Investment Partners is a credit investment manager with more than $46 billion in assets under management.

Talamod officials referred questions to HPS.