HPR is a rating rule that started as a concept of the New York Yacht Club's Handicap Rules Committee, and is now being supported by private contributions to the Sailing Yacht Research Foundation (SYRF).

HPR is owned by the Offshore Racing Association (ORA), and a Memorandum of Understanding has been approved to describe a partnership agreement made so that US Sailing will administer HPR in North America and the Caribbean, and the Offshore Racing Congress (ORC) is to administer the Rule in areas outside North America and Bermuda.