Hunter Point Capital has made a strategic investment in credit investor Iron Park Capital.
The new investments will go to IPC’s balance sheet according to the firm, and its investment process, management and day-to-day operations will remain unchanged.
Tripp Smith, founder and CEO of IPC, said, “The HPC team shares our focus on alignment with institutional investors and partners, our long-term orientation and our conviction that the highly experienced IPC team can unlock value to generate superior risk-adjusted returns.”
Bennett Goodman, executive chairman and co-founder of HPC, said, “Tripp Smith is an exceptional investor, leader and partner. We look forward to providing IPC with added strategic guidance and resources as market opportunities evolve.”
Avi Kalichstein, CEO and co-founder of HPC, added, “IPC’s track record in multiple areas of credit investing is outstanding. They find situations where others are less focused and deliver superior results for their investors.”
Hunter Point Capital was launched in 2020 by the co-founder of Blackstone’s $125bn GSO credit platform to take stakes in mid-market alternative asset managers.
It sealed its first GP stake deal in November by buying into private and credit house MidOcean Partners.
Other big players in the market have also been eyeing stakes in investment houses recently.
$55bn- managing private equity secondaries giant Lexington Partners was reportedly preparing for a potential sale of its business last September, with buyout giant KKR said to be among interested bidders.
T Rowe Price agreed in October to buy $53bn-managing alternative credit investor Oak Hill Advisors for up to $4.2bn.
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