Oak Hill Advisors (OHA) has held a final closing of the third vintage of its flagship distressed investment fund, OHA Strategic Credit Fund III (OHSCFIII).
OHA is proud to partner with OHSCFIII’s global institutional investor base to extend its distressed investing franchise. OHSCFIII raised $2.3 billion in equity commitments, with the majority of the capital from investors in OHA’s predecessor distressed funds.
OHSCFIII will seek to continue the disciplined approach of OHSCFII, which held its final close in 2016, began investing in 2017 and accelerated its pace of capital deployment throughout the COVID dislocation. OHSCFII entered its harvest period in April 2021 and has invested $3.8 billion of capital. OHSCFIII will focus on opportunities in North America and western Europe, with investments across the capital structure from senior secured debt to equity, and expects to utilize market-based triggers to optimize the commencement of its investment period.