Oak Hill Advisors Closes $1.2 Billion U.S. Distressed Residential Mortgage Fund

PR Newswire

NEW YORK and LONDON, Oct. 1, 2013 /PRNewswire/ -- Oak Hill Advisors, L.P. ("OHA") today announced the final closing of OHA Newbury Partners (the "Fund"), a $1.2 billion fund which seeks to capitalize on the dislocation in the U.S. residential mortgage market by investing in whole loans and other mortgage-related investments. The Fund's limited partners comprise a diverse and global group of institutional investors, including sovereign wealth funds, pension plans, endowments and foundations, insurance companies and family offices. They include both new and existing OHA relationships.

Glenn August, Founder & Chief Executive Officer of OHA, said, "We are proud of the residential mortgage investment capability we have built at the firm. Consistent with OHA's approach over more than two decades of investing in corporate credit, our team invests on the basis of a deep, fundamental understanding of underlying mortgages and the properties which collateralize them."

In 2008, OHA hired Jason Serrano, who serves as the Portfolio Manager for the Fund, to lead its U.S. residential mortgage investing team. Mr. Serrano has been an investor in performing and distressed residential mortgage backed securities, whole loans, and other residential mortgage-related assets over the past 10 years.

Mr. Serrano commented, "We look forward to continuing to leverage our relationships and residential home and loan analytics platform to source, analyze and invest in attractive residential mortgage investment opportunities. We are excited about the favorable supply/demand dynamics that exist in today's whole loan market and our ability to generate attractive returns for our limited partners."

About Oak Hill Advisors

OHA is a leading independent investment firm specializing in distressed and performing investments across the North American and European leveraged and structured credit markets. With more than $20 billion of capital, OHA manages distressed funds, credit hedge funds, customized mandates and other specialty credit funds. OHA employs a fundamental, value-oriented strategy focused on credit analysis, relative value and active risk management that has been in place for more than two decades. The firm invests on behalf of a diverse, global investor group. For further information about OHA, please visit www.oakhilladvisors.com.

James David  
Kekst and Company  
(212) 521-4825 

View Comments