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Oak Hill Advisors completes final closing of distressed credit fund

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Oak Hill Advisors, an investment management firm specialising in below investment grade credit, has held the final closing of the OHA Strategic Credit Fund, a USD1.125bn corporate credi

Oak Hill Advisors, an investment management firm specialising in below investment grade credit, has held the final closing of the OHA Strategic Credit Fund, a USD1.125bn corporate credit distressed fund which targets opportunities in stressed and distressed loans, bonds and other investments.

The fund was initially formed in March 2008 but, consistent with its opportunistic mandate, began investing in October 2008.

Investor interest in the fund exceeded by over 50 per cent the firm’s initial target of USD750m. 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 represents the firm’s continued focus on the distressed market. 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 USD3bn of capital for distressed and performing assets during that period.

Glenn August, president and senior partner, says: "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."

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