– Oak Hill Advisors (OHA), a global credit-focused alternative asset manager, announced the final close of OHA Senior Private Lending Fund (OLEND), the first vintage of its dedicated senior private lending strategy.
– OLEND and related vehicles raised $17.7 billion in total available capital across levered and unlevered offerings, including $8.0 billion of equity commitments.
– The fund targets direct lending to larger companies, focusing on first lien and unitranche loans to businesses with more than $75 million of EBITDA.
– Investments will be primarily in North America and across industries OHA considers recession-resistant, supported by OHA’s industry-specialist investment teams.
– OLEND represents the largest flagship fundraise in OHA’s history, according to Founder and CEO Glenn August.
– OHA brings more than three decades of experience in leveraged finance, having invested hundreds of billions of dollars and built a strong private credit platform.
– The fund aims to leverage OHA’s underwriting expertise and emphasis on downside protection to deploy capital effectively.
– OLEND builds on OHA’s evolving credit platform, benefiting from the growth of private credit markets and the relative value of unitranche financings, as noted by Senior Partner Alan Schrager.
– OHA believes current market dynamics support increased leveraged buyout activity and corporate growth initiatives, positioning OLEND to benefit from stronger deal flow.
– The investor base includes pension funds, sovereign wealth funds, insurance companies, endowments, and family offices from around the world.
– Eric Muller, Portfolio Manager and Partner at OHA, said the fund’s diverse investor base reflects OLEND’s versatility and the compelling opportunity in senior direct lending.
– OHA’s partnership with T. Rowe Price contributed meaningfully to the fundraise and helped establish new investor relationships.
– With substantial purchasing power, OLEND is positioned to pursue higher-quality private credit opportunities and demonstrate transaction leadership.
– OHA expects the strategy to deliver consistent returns and long-term value for investors, reflecting the versatility and appeal of senior direct lending.
