Oak Hill Advisors raises $1.13 billion for distressed credit fund

By Marisa Wong

Milwaukee, Sept. 14 - Oak Hill Advisors, LP announced the final closing of the OHA Strategic Credit Fund, a $1.125 billion corporate credit distressed fund which targets opportunities in stressed and distressed loans, bonds and other investments, according to a press release.

The fund was initially formed in March 2008 but began investing in October 2008.

Investor interest in the fund exceeded over 50% the firm’s initial target of $750 million. The fund’s limited partners represent a diverse group of domestic and international investors, including corporate and public pension plans, endowments, insurance companies and family offices.

The fund reflects the Oak Hill Advisor’s continued focus on the distressed market and builds upon a research-driven investment process. In addition to having made several senior hires focusing on corporate and structured product distressed assets over the past 18 months, the firm has raised more than $3 billion of capital for distressed and performing assets during that period.

Glenn August, president and senior partner of Oak Hill Advisors, said in the release, “My partners and I are excited about the opportunities available in the distressed market and we are grateful for the favorable response from our investors. For nearly 20 years, our team has worked hard to build confidence among our investors and establish a track record of success, which has allowed us to raise this capital during challenging market conditions.”

Oak Hill Advisors is an independent investment management firm with offices in New York, London and Fort Worth.

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