# HP Inc.

HP Inc. is a Pension Fund based in Spring, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Spring, United States
- **Region:** North America
- **Address:** Spring, TX, United States
- **Founded:** 2003
- **Assets under management:** ~$4.5B (Altss estimate)
- **Website:** www.hp.com

## Regulatory record

- **Reports private funds:** No

## About

HP Inc. established its US pension fund in 2003, consolidating retirement assets for employees of the technology manufacturer. The plan is sponsored by the parent company and managed entirely in-house through Shoreline Investment Management Company, a dedicated subsidiary that functions as the fund's outsourced CIO. Bruce Broussard, a longtime Humana chief executive, was appointed Interim CEO of HP Inc. in February 2026, succeeding Enrique Lores who had led the company since 2019. The fund's assets originate from corporate contributions rather than a single-family wealth event, placing it firmly in the private-sector defined-benefit pension category. The fund pursues a deliberately broad mandate rarely seen among corporate single-sponsor pensions. Asset classes include direct co-investments, buyout, venture capital, real estate, natural resources, hedge funds, and private credit across the capital structure — from early-stage seed rounds and venture secondaries to mezzanine debt and distressed turnarounds. Confirmed portfolio exposures include a global real estate fund portfolio, direct commercial properties such as the HP headquarters at 1501 Page Mill Road in Palo Alto, and a hedge fund portfolio spanning multiple strategies. The geographic footprint extends to the United Kingdom through the HP Limited Retirement Benefits Plan, alongside domestic holdings in Texas, Idaho, Washington, and California. The fund participates in club-style investments and co-investment vehicles sourced through professional networks including multiple YPO chapter memberships among its board and executives. Shoreline Investment Management remains the central operating vehicle for deployment, though the parent company's recent leadership transition introduces succession dynamics that allocators tracking corporate governance will monitor. Bruce Broussard's appointment as Interim CEO in February 2026, combined with Chip Bergh serving as Chairman of the Board, brings a healthcare and consumer-goods lens to a technology-rooted pension — a board composition that may influence future sector allocations. The fund maintains no disclosed partner base on its public-facing pages, but its association with YPO and the Business Council provides a sourcing network beyond standard institutional channels. Additional arms include the HP Foundation, which operates as a separate philanthropic entity funded by the parent company. Shoreline's unusual architecture is its structural differentiator: rather than hiring an external OCIO or paying advisory fees to consultants, HP Inc. converted its internal treasury function into a captive fund manager that competes for talent against independent asset managers. This hybrid in-house model gives the pension the sourcing capabilities of a direct investor while retaining the liquidity management constraints of a corporate balance sheet. For allocators mapping the landscape of corporate pension capital, Shoreline represents a rare instance of a plan that functions operationally more like a multi-strategy investment office than a conventional LP.

## Sectors

- Enterprise Software
- Secondaries & Special Situations
- Natural Resources
- Real Estate
- Hedge Funds
- Private Credit

## Offices

- Palo Alto, CA
- Boise, ID
- Vancouver, WA

## People

- Bruce Broussard — Interim CEO
- Chip Bergh — Chairman of the Board
- Enrique Lores — Former President and CEO
- Julie Jacobs — Chief Legal Officer and General Counsel

## Questions

### Who runs investment decisions for the HP Inc. pension fund?

Shoreline Investment Management Company, a wholly owned subsidiary of HP Inc., manages the pension fund's portfolio. Unlike most corporate pensions that hire external OCIOs or allocate to consultants, Shoreline operates as an in-house captive manager running a multi-asset book that spans direct deals, fund commitments, real estate, natural resources, and hedge funds.

### What investment stages and asset classes does Shoreline target?

The mandate spans the full corporate pension toolkit: direct co-investments, buyout, early-stage venture, expansion capital, fund-of-funds, mezzanine, distressed debt, secondaries, special situations, and turnarounds. Non-equity exposures include a global real estate fund portfolio, natural resources, and a hedge fund portfolio — covering substantially more asset classes than a typical tech company pension.

### Does the fund make direct investments or only fund commitments?

Both. Shoreline participates in direct co-investments alongside GPs while also committing to venture capital, buyout, and credit funds. The real estate book includes direct ownership of HP's corporate campuses in Palo Alto, Boise, Spring, and Vancouver, alongside a global fund portfolio — demonstrating a hybrid direct-operating model rather than a pure LP posture.

### How is the HP Inc. pension governed following the February 2026 leadership change?

Bruce Broussard was appointed Interim CEO of HP Inc. in February 2026, succeeding Enrique Lores. Chip Bergh, former CEO of Levi Strauss, serves as Chairman of the Board. Shoreline Investment Management reports through HP Inc.'s corporate structure, meaning the pension's ultimate investment governance sits with the parent company's board and executive team — a governance stack that allocators should track as the interim CEO role evolves.

### What is the fund's geographic exposure beyond the United States?

The primary US pension is supplemented by the HP Limited Retirement Benefits Plan in the United Kingdom. The US real estate portfolio includes properties across California, Texas, Idaho, and Washington, while the broader asset allocation includes global natural resources and hedge fund exposures that extend into non-US markets.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/hp-inc

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