New York-based Oak Hill Advisors has announced that Goran V. Puljic, T.K. Narayan and Scott W.
New York-based Oak Hill Advisors has announced that Goran V. Puljic, T.K. Narayan and Scott W. Snell have joined the firm’s structured products group to focus on investment opportunities in the credit markets.
The team joined Oak Hill from Lehman Brothers, where they managed around USD2bn in structured credit assets, through both third-party fund vehicles and proprietary capital within Lehman Brothers Private Equity.
Their appointment enhances the investment capabilities of Oak Hill Advisors’ structured products group currently led by Jason Serrano, who joined earlier this year from the Blackstone Group. Puljic will henceforth share leadership of the group with Serrano.
‘The investment opportunities in structured credit products are substantial, given the recent market dislocation, and can generate very attractive risk-adjusted returns over the next several years,’ says Oak Hill president Glenn R. August. ‘Our expansion into this market segment continues the growth of our business and is a natural fit with our 20-year history of value investing in corporate credit.’
As a managing director and co-head of the structured products group, Puljic has experience in investing in collateralised loan obligations, collateralised debt obligations and structured credit assets. He was previously a managing director and head of the structured credit investment group at Lehman Brothers Private Equity, following nine years as a managing director of Goldman Sachs, where he held senior positions in interest rate and credit derivatives and spent two years in Frankfurt leading the German fixed-income division.
Narayan, who becomes a principal at Oak Hill, was a senior vice-president at Lehman and a portfolio manager in the structured credit investments group, where he focused on secondary market CDO investments. Snell, who joins as a vice-president, was a vice-president focused on analysing and trading CDO securities at Lehman.
‘I have worked closely with the Oak Hill Advisors team for many years,’ says Puljic. ‘In recent years, the structured finance sector has evolved into an area of great potential for stressed and distressed investing.’
Oak Hill Advisors is an independent investment manager with nearly two decades of experience in below-investment grade credit markets, specialising in leveraged loans, high yield bonds, distressed securities and selected equity opportunities in North American and European markets.
The firm manages more than USD11bn of committed capital, including credit hedge funds, distressed funds, long-only funds and other specialty credit products, and has more than 100 employees at offices in New York, London and Fort Worth, Texas.
Oak Hill maintains strategic relationships with Robert M. Bass and other Oak Hill investment partnerships specialising in private equity, real estate, venture capital and wealth management. The firm also has a strategic relationship with commercial real estate finance company iStar Financial. The firm has raised more than USD1.5bn in capital this year for investing in opportunities in the par and distressed loan and bond markets.
