BlackRock HPS Credit Strategies Fund

Sponsored by BlackRock / HPS. Interval Fund structure focused on private credit.

Interval FundPrivate Credit

Sponsor: BlackRock / HPS
CIK: 0001752019
Liquidity: Periodic repurchase offers at NAV
Inception: 2019

Net assets: $530.0M

source

Monthly portfolio report (Form N-PORT) · filed 2026-05-28 · period 2026-03-31

Net assets (N-PORT Part B, Item B.2)

Method Direct: read from a structured filing field

Open the filing on SEC.gov · Full observation history

Technical locator

NPORT-P netAssets | https://www.sec.gov/Archives/edgar/data/1752019/000141036826054499/xslFormNPORT-P_X01/primary_doc.xml
NAV / share: $8.18

source

Shareholder report (Form N-CSR) · filed 2026-03-05 · period 2025-12-31

financial-highlights end-of-period NAV (fallback)

“Net asset value, end of year $ 8.18”

Method Matched text template against the filing

Open the filing on SEC.gov · Full observation history

Technical locator

https://www.sec.gov/Archives/edgar/data/1752019/000119312526093570/d105828dncsr.htm | financial-highlights end-of-period NAV (fallback)
Net flows, last qtr: -3.3%
Distribution coverage (NII): Not disclosed
Leverage in use: 5%
Total return, 12m: +5.5%

01 / Signals

What changed in the latest filings.

Current findings ordered by severity. Each observation remains traceable to its filed source.

No current Urgent or Notify findings in filings reviewed through 2026-07-02.

Historical findings (4)

NAV per share fell 13.8% from $9.96 to $8.59 (2022-06-30).
NAV per share fell 13.8% from $9.96 to $8.59 (2022-06-30). (Rule B12: NAV per share drop, severe: >= 5% decline month over month; Urgent.)

NAV per share ($8.60) is 3.5% below its trailing four-observation average ($8.91) as of 2023-06-30.
NAV per share ($8.60) is 3.5% below its trailing four-observation average ($8.91) as of 2023-06-30. (Rule C23: Sustained NAV decline: NAV per share >= 2% below its trailing 4-observation average; Notify.)

NAV per share ($8.48) is 9.6% below its trailing four-observation average ($9.38) as of 2022-12-31.
NAV per share ($8.48) is 9.6% below its trailing four-observation average ($9.38) as of 2022-12-31. (Rule C23: Sustained NAV decline: NAV per share >= 2% below its trailing 4-observation average; Notify.)

NAV per share fell 5.3% from $10.24 to $9.70 (2020-06-30).
NAV per share fell 5.3% from $10.24 to $9.70 (2020-06-30). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

02 / Trends

How the fund has moved.

Net asset value, total return, capital flows, and distribution coverage across the filing record.

Total return index

NAV per share

Net capital flows, % of NAV

03 / Portfolio

What moved inside the book.

Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.

No structured portfolio-health series or position-change events have been captured for this fund.

04 / Redemptions

Where exit demand met the cap.

Rationed in 2 of 10 disclosed periods; last gated Q4 2025.

Requested redemptions versus cap

Period	Requested	Filled	Cap used	Status
2025-11-06	11.1%	63%	Not disclosed	rationed
2025-08-07	7.0%	100%	Not disclosed	filled
2025-05-08	5.7%	100%	Not disclosed	filled
2025-02-07	5.1%	100%	Not disclosed	filled
2024-05-08	3.5%	100%	Not disclosed	filled
2024-02-07	2.9%	100%	Not disclosed	filled
2023-11-08	4.2%	100%	Not disclosed	filled
2023-08-09	3.8%	100%	Not disclosed	filled
2023-05-10	5.2%	100%	Not disclosed	filled
2023-02-08	7.1%	70%	Not disclosed	rationed

05 / Financing

How the balance sheet is funded.

Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.

No structured financing components have been captured for this fund.

06 / Share classes

How the offering is divided.

A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.

No filed share-class terms have been captured for this fund; ownership type is therefore not inferred.

Management fee: 1.00% of avg daily managed assets per year. source. For its services, the Fund pays the Manager (an indirect, majority-owned subsidiary of BlackRock, Inc.) a monthly fee at an annual rate equal to 1.00% of the average daily value of the Fund's managed assets. 'Managed assets' are total assets of the Fund (including any assets attributable to money borrowed for investment purposes) less accrued liabilities other than money borrowed for investment purposes -- gross of the Fund's $20M leverage, consistent with the fund actually using leverage (see ingest/extract_tier1_leverage.py).

07 / Sources

The evidence beneath the page.

Filed terms and recent documents remain available without crowding the primary research flow.

Term register (1)

Term	Description	Value	Effective
advisory_fee_schedule	For its services, the Fund pays the Manager (an indirect, majority-owned subsidiary of BlackRock, Inc.) a monthly fee at an annual rate equal to 1.00% of the average daily value of the Fund's managed assets. 'Managed assets' are total assets of the Fund (including any assets attributable to money borrowed for investment purposes) less accrued liabilities other than money borrowed for investment purposes -- gross of the Fund's $20M leverage, consistent with the fund actually using leverage (see ingest/extract_tier1_leverage.py).	1.0 pct_annual_of_avg_daily_managed_assets	Date not captured

Recent filings

Filed	Form	Accession
2026-07-08	N-23C3A	0001193125-26-298052
2026-06-02	DEF 14A	0001193125-26-253562
2026-05-28	NPORT-P	0001410368-26-054499
2026-04-08	N-23C3A	0001193125-26-146253
2026-03-05	N-CSR	0001193125-26-093570
2026-02-24	NPORT-P	0001410368-26-017003
2026-01-08	N-23C3A	0001193125-26-007676
2025-11-26	NPORT-P	0001410368-25-032214
2025-10-07	N-23C3A	0001193125-25-233482
2025-09-04	N-CSRS	0001193125-25-196211
2025-08-26	NPORT-P	0001752724-25-204422
2025-07-08	N-23C3A	0001193125-25-156627
2025-05-28	NPORT-P	0001752724-25-125655
2025-04-08	N-23C3A	0001193125-25-075829
2025-03-07	N-CSR	0001193125-25-049672