Oak Hill Advisors, LP, the New York-based USD 6 billion leveraged capital markets specialist, is to open a London office.
The London operation will be co-headed by Richard Munn, the former head of European loan syndications at Deutsche Bank, and Ty Wallach, a senior member and 10-year veteran of Oak Hill's investment team.
The move reflects Oak Hill's expectation that the leveraged capital markets in both the UK and Europe will continue to grow.
Oak Hill Advisors manages a full range of debt instruments, including leveraged loans, high yield bonds, mezzanine investments, distressed debt and other similar investments. The flexibility to invest in this full range of financial instruments puts Oak Hill Advisors among a select group of money managers.
In the US, Oak Hill Advisors has a long-standing reputation as an expert provider of debt capital. In expanding its presence in Europe, Oak Hill will actively manage its portfolios with a focus on credit analysis and relative value; maintain flexible capital in order to invest across capital structures; and work with banks, private equity sponsors and other investment funds.
"We believe there will be continued growth in the European debt markets, much of it driven by ongoing high levels of private equity activity, said Glenn August, president of Oak Hill Advisors. "Building a presence in London will broaden our private equity relationships, expand the number of opportunities we see and make it easier for us to conduct intensive primary due diligence."
The company is currently in the process of registering with the UK regulatory authorities and plans to open its office in London's West End this summer.