Oak Hill's new European distressed debt fund raises $1.35 billion

By Ashley Montgomery

Kansas City, Kan., July 18 - Oak Hill Advisors, LP announced the final closing on its OHA European Strategic Credit Fund, which will invest primarily in European distressed debt and corporate restructurings, according to a news release.

The fund closed at $1.35 billion, well above the original goal of $750 million.

Investors in the fund include sovereign wealth funds, corporate and public pension plans, endowments and foundations, insurance companies and family offices.

"This Fund highlights our confidence in the quality of the European distressed opportunity as well our growing commitment to the European credit markets," Scott Krase, Oak Hill senior partner and portfolio manager, said in the release. "With more than two decades of history investing in these markets and a deep and experienced team, we believe that we are well positioned to seize on the opportunity."

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

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