Global credit-focused alternative asset manager Oak Hill Advisors (OHA) has formed a new partnership with One Investment Management (OneIM), a global alternative investment manager, to invest up to $5bn in European private credit.
According to a press statement, the new venture is aimed at addressing the financing needs of European borrowers and “leverages the size, scale, and combined sourcing and origination capabilities of both firms”.
The fund will focus on providing loans, including first-lien and unitranche, to upper mid-market and large European companies, and follows similar collaborations in the private credit space, such as the tie-up earlier this year between Barclays Plc and AGL Credit Management, and Nomura Holdings Inc’s investment in the nascent private lending firm Corinthia Global Management.
“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.”
OHA has a long-standing presence in the European market, having been investing in the region since 1992 and establishing a dedicated European office in London in 2005. Over this period, OHA has made over $17bn of investments in Europe. The firm entered the private markets in 2002 and has since committed nearly $39bn in private credit across more than 300 portfolio companies.
Founded in 2022, OneIM operates globally with offices in London, New York, Tokyo, and Abu Dhabi, and has raised approximately $7bn in commitments. OneIM’s flexible investment mandate spans across the capital structure, targeting various industries, geographies, and asset classes, including real estate, public and private equity, and credit.
