16.07.2024 17:12:31 - dpa-AFX: GNW-Adhoc: OHA and OneIM Launch a Partnership to Invest in European Private Credit
New York, New York, July 16, 2024 (GLOBE NEWSWIRE) -- Oak Hill Advisors ("OHA"),
a leading global credit-focused alternative asset manager, and One Investment
Management ("OneIM"), a global alternative investment manager, today announce
the formation of a partnership to invest in European private credit. The new
venture has initially up to $5 billion of investable capital which will help
address the needs of European borrowers. Both firms will benefit from the
partnership's size and scale, as well as the teams' combined sourcing and
origination capabilities.
"The European private credit market has been rapidly evolving, with high quality
European borrowers increasingly seeking the benefits of private credit." said
Alexis Atteslis, Co-Head of Europe and Partner at OHA. "Our venture with OneIM
will be a trusted, 'go-to' financing partner for companies and private equity
sponsors, offering bespoke and flexible capital solutions."
The partnership represents a landmark initiative for both firms and is a natural
extension of both OHA's European credit and global private credit businesses.
OHA has been investing in Europe since 1992, establishing a dedicated European
office in London in 2005, and has made over $17 billion of investments in the
region.
Founded in 2022, OneIM is a global alternative investment management firm with
offices in London, New York, Tokyo and Abu Dhabi, which has raised commitments
of approximately $7 billion. The firm's mandate creates flexibility to invest
across the capital structure in a range of industries, geographies and asset
classes including real estate, public and private equity and credit. OneIM
efficiently targets fresh capital opportunities, capturing both credit and
equity market cycles, creating resilience and the potential for higher long-
term performance.
Ignacio Lopez-Garrastazu Torrens, Partner at OneIM, said: "OneIM's deep global
network, flexibility and expertise coupled with OHA's longstanding market
positioning will provide European borrowers with solutions that best address
their companies' needs right now."
OHA entered the private markets in 2002 as one of the first non-bank lenders and
has since made nearly $39 billion in private credit commitments across more than
300 portfolio companies, with approximately half in first lien loan and
unitranche investments and the other half in second lien and junior
opportunities.
Alan Schrager, Portfolio Manager and Senior Partner at OHA, said: "This
strategic initiative with OneIM will allow us to leverage our global sponsor
relationships and experience in leading large transactions, as well as our
expertise in the European markets."
Yanni Pipilis, Co-Founder of OneIM and Managing Partner said: "Partnering with
OHA will leverage our combined expertise and resources. This will further enable
us to deliver innovative financing solutions tailored to the unique needs of our
borrowers and continue to drive the growth of European businesses."
Glenn August, Founder and Chief Executive Officer of OHA, said: "We are excited
to establish this strategic partnership with OneIM and advance OHA's significant
presence in the development of the European capital markets. Having invested
across various regions, asset classes and market environments for more than 30
years, OHA has developed deep proficiency in sourcing and underwriting credit to
drive attractive risk-adjusted returns for our global investor base. We look
forward to combining our expertise with OneIM's platform through a collaborative
investment approach, offering attractive returns to investors of both
institutions."
Rajeev Misra, Co-Founder and Chief Executive Officer of OneIM, said: "This
partnership marks an exciting development for OneIM. The two firms' combined
talent, experience and networks will allow us to unlock opportunities in the
private credit market across Europe. This new venture will leverage the global
presence and expertise of both institutions and build on OneIM's proven track
record of delivering optimal returns for global investors."
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About OHA: Oak Hill Advisors (OHA) is a leading global credit-focused
alternative asset manager with over 30 years of investment experience. OHA works
with institutions and individuals and seeks to deliver a consistent track record
of attractive risk-adjusted returns. The firm manages approximately $64 billion
of capital across credit strategies, including private credit, high-yield bonds,
leveraged loans, stressed and distressed debt and collateralized loan
obligations as of March 31, 2024. OHA's emphasis on long- term partnerships with
companies, sponsors and other partners provides access to a proprietary
opportunity set, allowing for customized credit solutions across market cycles.
With over 400 experienced professionals across six global offices, OHA brings a
collaborative approach to offering investors a single platform to meet their
diverse credit needs. OHA is the private markets platform of T. Rowe Price
Group, Inc. (NASDAQ - GS: TROW). For more information, please visit
oakhilladvisors.com.
About OneIM: OneIM is a global alternative investment manager that invests
across the capital structure, in a range of asset classes, industries and
geographies. The firm applies a flexible investment approach driven by
fundamental analysis, focusing on credit special situations and capital
dislocations. OneIM seeks to provide tailored capital solutions built on
proprietary sourcing and underwriting complexity. OneIM is sector agnostic and
targets complex situations that do not fit into a single asset class, where
truly bespoke structured investments can offer superior risk-reward dynamics and
asymmetrical outcomes. The firm was founded in 2022 and currently manages
approximately $7 billion in assets. The team operates from offices in Abu Dhabi,
London, Tokyo and New York.
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