Global alternative investment manager Wafra has acquired a strategic minority interest in mid-market private equity buyout firm Oak Hill Partners from an affiliate of Jefferies Financial Group Inc.
Wafra said the partnership with OHCP is a continuation of Wafra’s strategy of acquiring minority interests in established alternative asset management firms by utilizing a unique partnership-based approach.
Oak Hill is led by Managing Partners Tyler Wolfram, Brian Cherry and Steve Puccinelli. The firm utilizes a theme-based investing strategy, focused on services, industrials, consumer and media & communications sectors. It had raised approximately $20 billion of initial capital commitments and co-investments.
Gustavo Cardenas, a Managing Director at Wafra, said, “We are pleased to partner with Oak Hill, a distinguished group of investors whose current management team has accelerated the evolution of OHCP to a world class private equity firm. We look forward to embarking on this new chapter with them, working together to execute strategic initiatives and positioning the firm for continued growth. Their thematic approach is differentiated in the market and this thoughtful approach is reflected in all aspects of their business.”
Oak Hill was advised by Evercore as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal counsel. Wafra was advised by Fried, Frank, Harris, Shriver & Jacobson LLP as legal counsel.
