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HLEND accepts 43.7% of Q3 tender requests, pays $603M

The HPS-advised BDC prorated redemptions for a third straight quarter, leaving about 31.8 million tendered shares unfilled.

43.7%Share of Q3 tender requests HLEND accepted

At a glance

  1. The fund accepted 24,668,750 of 56,440,057 shares tendered, equal to the 5% quarterly cap on shares outstanding as of June 30, leaving about 31.8 million unfilled.
  2. In the second quarter the fund filled about 38% of tendered shares for $612.1 million; in the first quarter it filled roughly 54% for about $610.8 million.
  3. For advisors, clients who tendered received 43.7 cents per dollar back; the rest stayed in the fund unless they resubmit in a later quarterly window.

HPS Corporate Lending Fund accepted 43.7% of the shares investors tendered in its third-quarter 2026 repurchase offer and paid about $603 million on or about Oct. 30, AltsWire reported Nov. 2.

The fund accepted 24,668,750 of 56,440,057 shares tendered, equal to the 5% quarterly cap on shares outstanding as of June 30, leaving about 31.8 million unfilled. It was the third consecutive quarter HLEND prorated requests. A Sept. 11 shareholder letter had put third-quarter requests at about 11.5% of shares outstanding, down from about 13.3% in the second quarter.

In the second quarter the fund filled about 38% of tendered shares for $612.1 million; in the first quarter it filled roughly 54% for about $610.8 million. Across the three 2026 offers, HLEND has paid about $1.83 billion.

For advisors, clients who tendered received 43.7 cents per dollar back; the rest stayed in the fund unless they resubmit in a later quarterly window. Unfulfilled requests do not carry over automatically.

The offer expired Sept. 4 and shares were repurchased at a net asset value of $24.45 per share as of Sept. 30. Tendering shareholders received non-interest-bearing, nontransferable promissory notes that the fund paid in cash. HLEND has reported that same month-end NAV since July 31, down from $25.22 at Dec. 31, 2025.

A separate secondary tender from Cox Capital Partners offers $20.17 per Class I share, about 17.5% below the Aug. 31 NAV, and expires Nov. 3.

HLEND filled 43.7% of tender requests in Q3, up from 38%

Share of tendered shares the fund repurchased in each 2026 quarterly offer

  • Highlighted
  • Others
Q1 2026Q1 2026: 54%
Q2 2026Q2 2026: 38%
Q3 2026Q3 2026: 43.7%
Source: AltsWire, citing HLEND
Show as table
LabelValue
Q1 202654%
Q2 202638%
Q3 2026 (highlighted)43.7%

Reported by the Liquidity desk from AltsWire. Published . Corrections

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HLEND accepts 43.7% of Q3 tender requests, pays $603M