Oak Hill Advisors has held the final closing of its OHA European Strategic Credit Fund, a credit fund focused on distressed debt and corporate restructurings in Europe.

The fund closed at its cap of USD1.35bn, significantly exceeding the firm’s initial target of USD750m.
 
OHA has been investing in both the distressed and performing European credit markets for more than 20 years. It established its London office in 2005. This fund is its first dedicated European distressed investment vehicle.
 
Scott Krase, senior partner and portfolio manager, says: “This fund highlights our confidence in the quality of the European distressed opportunity as well our growing commitment to the European credit markets. With more than two decades of history investing in these markets and a deep and experienced team, we believe that we are well positioned to seize on the opportunity.”
 
The fund’s limited partners represent a diverse group of institutional investors, including sovereign wealth funds, corporate and public pension plans, endowments and foundations, insurance companies and family offices. They include both new and existing OHA relationships.