Who Is Scott Kapnick?
Scott Kapnick is an American investment professional and the Chief Executive Officer and Founding Partner of HPS Investment Partners. He has played a major role in building HPS into a global investment manager focused on alternative credit and private markets.
Today, Kapnick leads HPS as part of BlackRock’s Private Financing Solutions business. He has spent much of his career working in investment management, private credit, and financial services. His career is closely connected with the growth of alternative credit as an important part of global finance.
Scott Kapnick’s Career in Finance
Scott Kapnick built his career around investing, financial markets, and developing investment businesses. Rather than becoming known through a traditional consumer-facing company, his professional reputation grew through institutional finance and alternative investments.
His career became especially important when he helped develop the business that became HPS Investment Partners. HPS was originally established in 2007 as part of J.P. Morgan Asset Management. The firm was created to invest in the emerging alternative credit market in the United States and Europe.
This was an important period for finance because alternative credit was becoming a larger part of the investment landscape. Kapnick and his partners focused on building investment strategies that could provide capital to companies while also seeking attractive risk-adjusted returns for investors.
Building HPS Investment Partners
HPS’s growth is one of the most important parts of Scott Kapnick’s career.
The firm expanded its investment capabilities over time. In 2008, HPS launched its junior private credit strategy, known today as Strategic Investment Partners. In 2010, it introduced its first dedicated senior private credit strategy. These developments helped HPS build capabilities across different parts of the credit market.
The company continued to expand its platform through customized private credit accounts, asset-based lending, direct lending, and other investment strategies.
In 2016, HPS’s principals purchased the firm from J.P. Morgan Asset Management. This created an independent, employee-owned investment firm specializing in non-investment-grade alternative credit.
For Kapnick, this was an important milestone because it gave the firm’s leadership greater independence in developing its long-term business strategy.
Scott Kapnick’s Leadership at HPS
Kapnick’s leadership approach focuses on investment discipline, collaboration, flexibility, and long-term relationships.
HPS says its culture emphasizes analytical rigor, open-mindedness, collaboration, and humility. These principles are intended to support better investment decisions and stronger client relationships.
Under Kapnick’s leadership, HPS expanded from its early alternative-credit business into a much broader investment platform.
The firm says it manages approximately $197 billion in assets across private and liquid credit, according to its current website.
HPS has also built a global presence, with investment professionals and offices serving clients across multiple regions.
HPS and the Growth of Private Credit
One reason Scott Kapnick is an important figure in modern finance is his connection to the growth of private credit.
Private credit allows companies to obtain financing directly from private investment firms instead of relying only on traditional banks or public debt markets. Investors can potentially receive attractive returns, while companies may gain access to flexible financing structures.
HPS has developed strategies covering senior lending, junior capital, asset-based finance, liquid credit, and other areas of alternative credit.
Kapnick has frequently discussed the expanding role of private capital. In a 2026 Bloomberg interview, he highlighted opportunities in private credit and discussed how scaled firms can manage risk in changing market conditions.
HPS Becomes Part of BlackRock
A major recent development in Kapnick’s career was the acquisition of HPS by BlackRock.
In 2025, BlackRock completed its acquisition of HPS Investment Partners. Following the transaction, HPS became part of BlackRock’s Private Financing Solutions platform. The combined business brought together HPS and BlackRock’s existing private credit, CLO, and GP-LP Solutions capabilities.
Scott Kapnick continued as CEO of HPS and also became involved in the leadership of BlackRock’s Private Financing Solutions business.
This development gave HPS access to BlackRock’s much larger global platform while allowing HPS to continue using its investment expertise and established approach to private credit.
Scott Kapnick and Financial Education
Kapnick’s work also extends beyond investment management.
HPS and The Kapnick Foundation partnered with Howard University to establish the HPS Center for Financial Excellence. The partnership was designed to help prepare students for careers in finance and investment banking. HPS and the Kapnick Foundation announced a $10 million commitment to support the initiative.
This effort reflects another aspect of Kapnick’s professional interests: expanding access to financial education and creating opportunities for students interested in careers in finance.
Scott Kapnick’s Business Philosophy
Kapnick’s leadership philosophy can be understood through several themes.
First, investment discipline matters. Private credit involves evaluating companies, markets, risks, and repayment potential. Careful analysis is therefore central to the business.
Second, scale can create opportunities. HPS has grown its capital base and global platform while expanding into different areas of private credit.
Third, flexibility is important. Companies seeking financing can have very different needs. HPS has developed different strategies to provide capital across the capital structure.
Fourth, people and culture matter. HPS describes collaboration, intellectual curiosity, and client service as important parts of its culture.
What Can We Learn From Scott Kapnick’s Career?
Scott Kapnick’s career shows how long-term expertise can help build a major financial institution.
His story is not simply about becoming the CEO of an investment company. It is also about identifying a growing area of finance, building investment capabilities, developing a strong team, and adapting as the market changes.
HPS began in 2007 as a focused alternative-credit business. Over the years, it developed into a global investment platform. The 2025 BlackRock transaction marked another major stage in that journey.
Conclusion
Scott Kapnick is best known as the CEO and Founding Partner of HPS Investment Partners and as a major figure in the growth of alternative credit. His career has been closely linked to the development of HPS from its early beginnings into a large global private-credit platform.
His leadership combines investment expertise, business development, risk management, and a focus on long-term institutional relationships. With HPS now operating within BlackRock’s Private Financing Solutions platform, Kapnick remains an important leader in the evolving private-credit industry.
