Citi and HPS Investment Partners, a part of BlackRock, announced a €15 billion Private Capital Program to expand direct lending and private financing solutions across EMEA. The strategic collaboration aims to enhance capital access for corporate- and sponsor-owned borrowers across Continental Europe and the UK, and eventually in the Middle East.
The Program is expected to finance €15 billion of debt opportunities in EMEA over an initial five-year term. Under the agreement, Citigroup will utilize its Investment, Corporate, and Commercial Bank origination capabilities to source investment opportunities for the initiative. The Program will focus on a broad range of sub-investment-grade debt instruments.
The collaboration reflects growing demand for customized private credit solutions as institutions across the region seek alternative financing sources. By combining Citi’s origination and client network with HPS’s capital and structuring expertise, the firms intend to deliver expanded financing capabilities to borrowers across EMEA.
HPS, a part of BlackRock, manages $381 billion in assets under management through its Private Financing Solutions platform as of March 31, 2026. The platform invests across the capital structure, including privately negotiated senior debt, junior capital solutions, leveraged loans, collateralized loan obligations, high yield bonds, asset-based finance, and real estate investments.
KEY QUOTES:
“To meet the increasing demand from our corporate and sponsor clients for tailored private credit solutions, we are excited to announce this collaboration with HPS, a part of BlackRock. This Program is designed to directly support our clients’ strategic objectives across the EMEA region by combining Citi’s deep client relationships and origination strength with their significant capital and structuring expertise. Together, we are creating a best-in-class offering to help our clients achieve their goals.”
John McAuley, Co-Head Of Debt Capital Markets, Citi
“We are pleased to collaborate with Citi to bring expanded direct lending solutions to the EMEA market. This collaboration will enable us to leverage Citi’s extensive network and origination pipeline in EMEA, further strengthening our ability to deliver tailored financing options to a broad range of borrowers.”
Matthieu Boulanger, Partner And Head Of Europe At HPS, A Part Of BlackRock
