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.
