Opalesque Industry Update - Oak Hill Advisors, L.P. today announced the final closing of its OHA European Strategic Credit Fund, a credit fund focused on distressed debt and corporate restructurings in Europe. The Fund closed at its cap of $1.35 billion, significantly exceeding the firm’s initial target of $750 million.|
OHA has been investing in both the distressed and performing European credit markets for more than twenty years. It established its London office in 2005. This Fund is its first dedicated European distressed investment vehicle.
Scott Krase, Senior Partner and Portfolio Manager, said, “This Fund highlights our confidence in the quality of the European distressed opportunity as well our growing commitment to the European credit markets. 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.”
Alexandra Jung, Partner and Portfolio Manager, added, “Our ability to identify and source investments, actively work with lender groups and management teams to add value and provide capital in a challenging market make us very excited about the success of this fund. We are delighted that so many experienced investors are partnering with us in this effort.”
The Fund’s limited partners represent a diverse and global group of institutional investors, including sovereign wealth funds, corporate and public pension plans, endowments and foundations, insurance companies and family offices. They include both new and existing OHA relationships.
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