Kapnick Fund Inc

Scott Kapnick, the founder and former CEO of HPS Investment Partners, and his wife Kathleen Kapnick serve as directors of Kapnick Fund Inc. Scott Kapnick built HPS into a $100 billion private-credit manager before selling it to BlackRock. The fund does not disclose a separate chief investment officer or external manager roster.

The wealth originates from Scott Kapnick's career at HPS Investment Partners, which he co-founded after spinning out of J.P. Morgan's proprietary investing desk in 2007. HPS grew into one of the world's largest independent credit managers, commanding over $100 billion in assets. BlackRock acquired HPS in 2024, converting Kapnick's carried interest and equity into liquid holdings.

The vehicle operates as a corporate entity — Kapnick Fund Inc — rather than a full-scale single family office or a private foundation. It is distinct from the Kapnick Foundation Trust, which handles grantmaking, though both share Scott and Kathleen Kapnick as directors. The separation suggests the fund serves an asset-custody and investment function, while the trust executes charitable distributions.

There is no public evidence that Kapnick Fund Inc allocates to external private funds. The known portfolio consists of directly owned residential and commercial real estate in Naples, Florida, and a retained equity stake in BlackRock. The lack of disclosed fund commitments suggests a direct-ownership model rather than an institutional alternative-asset allocation program.

Scott Kapnick co-founded HPS Investment Partners in 2007 and served as its CEO until BlackRock acquired the firm. The sale of HPS to BlackRock generated the liquidity that Kapnick Fund Inc now appears to manage. There is no ongoing operational relationship; Kapnick Fund Inc is a personal family vehicle, not an HPS affiliate.