HPS Corporate Lending Fund 8-K

What Happened

• HPS Corporate Lending Fund filed an 8-K on March 3, 2026 announcing regular and variable supplemental distributions declared February 27, 2026, payable to shareholders of record as of February 28, 2026 and to be paid on or about March 31, 2026. Shareholders may receive cash or reinvest distributions under the Fund’s reinvestment plan.
• The Fund reported its net asset value (NAV) per share as of January 31, 2026 ($25.21 for all classes) and provided portfolio and capital structure figures as of that date. It also updated the status of its ongoing public offering.

Key Details

• February 2026 distributions (per share):
  • Gross distribution: $0.1600 for all classes.
  • Shareholder servicing/distribution fees: Class I $0.0000; Class D $0.0048; Class F $0.0097; Class S $0.0164.
  • Variable supplemental distribution: $0.0550 for all classes.
  • Net total distributions: Class I $0.2150; Class D $0.2102; Class F $0.2053; Class S $0.1986.
• NAV and balance-sheet snapshot (as of Jan 31, 2026):
  • NAV per share (all classes): $25.21.
  • Aggregate NAV: $12,650.2 million.
  • Fair value of investment portfolio: $25,612.4 million.
  • Principal debt outstanding: $13,394.3 million.
  • Average debt-to-equity ratio in January 2026: ~1.02x.
• Offering status (continuous public offering up to $15.0 billion; through Feb 1, 2026):
  • Total shares issued: 539,768,215; total consideration received: ~$13.6 billion.
  • By class: Class I 219,028,489 ($5.5B); Class D 52,467,783 ($1.3B); Class F 234,549,698 ($5.9B); Class S 33,722,245 ($0.9B).

Why It Matters

• Income: The declared distributions (regular plus supplemental) provide the near-term cash or reinvestment income that shareholders expect from the Fund. Exact per-share amounts differ slightly by share class due to servicing fees.
• Financial position and leverage: The NAV, portfolio fair value, and debt figures show the Fund’s size and capital structure — notably a debt level roughly equal to equity (debt-to-equity ~1.02x), which is a key metric for assessing risk and yield potential in a lending fund.
• Growth/capital raising: The Fund is actively raising capital under a $15.0B offering and has raised about $13.6B to date, which affects future asset growth, fee income, and potential dilution from new share issuance.