Oak Hill Advisors Raises $2.7B For New Distressed Debt Fund

Oct 24 2016 | 11:42pm ET

Global alternative credit investment manager Oak Hill Advisors has raised $2.7 billion for its second distressed debt fund.

The new vehicle, named OHA Strategic Credit Fund II, had a capital target of $2 billion, according to an article in Pensions & Investments citing unidentified sources familiar with the matter. The new fund will focus on opportunities in North America and Europe. 

Investors reportedly include San Francisco City & County Employees’ Retirement System, the New Mexico Educational Retirement Board and the Louisiana State Employees’ Retirement System, P&I said.

Oak Hill’s first distressed credit fund raised $1.125 billion in total capital in 2009 to invest in distressed loans, surpassing its $750 million target by 50%. 

Founded in 1991, Oak Hill Advisors specializes in multi-strategy credit, leveraged loans, high yield bonds, structured products, distressed securities, private debt and turnaround investments. The company managed approximately $27.2 billion of capital as of June 1, 2016 on behalf of global pension funds, sovereign wealth funds, insurance companies, foundations, endowments, fund of funds and family offices. 

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