Non-QM lender Citadel Servicing Corporation has announced that it has been purchased by funds controlled by HPS Investment Partners.
HPS is a global investment firm founded in 2007. It has $61 billion in assets under management.
“We are excited that HPS has purchased CSC,” said Kyle Gunderlock, CEO of CSC. “HPS have shown through past acquisitions the value they can bring. HPS’s financial and operational resources, as well as their confidence in what the CSC team has achieved, enhances our ability to continue to lead in the non-QM market.”
CSC said that the deal would bring it additional resources, as well as HPS’s “wealth of experience” in growing businesses.