Hunter Point Capital (HPC), an independent investment firm providing capital solutions and strategic support to alternative asset managers, announced the closing of its inaugural GP Stakes fund (HPC Fund I) with $3.3 billion in permanent capital commitments, exceeding its initial $2.5 billion target. And HPC Fund I is the largest-ever debut GP Stakes fund dedicated to private market strategies.
Launched in 2020 by industry veterans Bennett Goodman and Avi Kalichstein, HPC aims to be the leading strategic partner for growth for the next generation of rising alternative investment managers. It will enable them to build their franchises faster and with greater certainty than they would alone.
Through HPC Fund I, the firm buys stakes in alternative investment managers. It offers them strategic and tactical support in critical areas such as capital formation, business development, group purchasing, and talent enhancement. This tangible, impact-oriented strategic partnership model is at the center of HPC’s approach, which invests in GPs in private equity, private credit, real estate, and infrastructure. The firm’s global reach spans North America, Europe, and Asia.
So far, HPC has formed partnerships with eight investment management firms: Pretium Partners; Coller Capital; Inflexion; L Catterton; The Vistria Group; SLR Capital Partners; Iron Park Capital; and MidOcean Partners. The commitments to HPC Fund I was secured from a broad base of institutional and high-net-worth investors. The investor group includes sovereign wealth funds, insurance companies, pension funds, endowment/foundations, banks, family offices, and registered investment advisors.
HPC aims to be the world’s best capital solutions and strategic support provider to GPs. And the firm has launched a separate but complementary platform called GP Financing Solutions (GPFS), which offers net asset value-based loans and preferred financing solutions to established GPs.
KEY QUOTES:
“Completing our first fundraise at over $3.3 billion provides further evidence that our brand of strategic partnership is resonating strongly with LPs. We believe these LPs have recognized that there is growing demand among an exceptional group of investment management firms for a partner that can help them seize opportunities and face the challenges of growth over the coming decades. We are incredibly grateful for the trust of our investors and the opportunity to create lasting partnerships with a careful selection of leading managers around the world.”
– Avi Kalichstein, CEO and Co-Founder of HPC
