Oak Hill, OneIM Strike $5 Billion Private Credit Partnership

Private credit firms Oak Hill Advisors and One Investment Management are joining forces in the latest tie-up between fund managers looking to cash in on the $1.7 trillion market.

Both firms will contribute to the new venture, jointly earmarking up to $5 billion of pre-raised investible capital, according to a statement seen by Bloomberg News. The new fund will invest in upper mid-market and large European companies by providing loans including first-lien and unitranches, according to a person familiar with the matter.

The partnership follows a tie-up earlier this year between Barclays Plc and AGL Credit Management and an investment ...