OHA Announces Final Close of $17.7 Billion of Total Available Capital for Senior Private Lending Strategy

Rhea-AI Summary

Oak Hill Advisors (TROW) announced the final close of OHA Senior Private Lending Fund (OLEND), the firm's first dedicated senior private lending strategy, with $17.7 billion of total available capital and $8.0 billion of equity commitments as of December 11, 2025.

OLEND will target first‑lien and unitranche loans to companies with >$75 million EBITDA, invest primarily in North America across industries OHA views as recession‑resistant, and leverage OHA’s underwriting experience and specialist teams to deploy capital.

Positive

• Total available capital of $17.7B
• Equity commitments totaling $8.0B
• Strategy targets companies with >$75M EBITDA
• Focus on first‑lien and unitranche loans

Negative

• None.

Key Figures

Total available capital $17.7 billion OLEND and related vehicles senior private lending strategy

Equity commitments $8.0 billion OLEND senior private lending equity capital

Target company size >$75 million EBITDA EBITDA threshold for OLEND borrowers

Firm history More than 3 decades OHA experience investing in leveraged finance markets

Market Reality Check

$103.56 Last Close

Volume Volume 3,519,085 vs 20-day average 1,753,605, indicating elevated trading activity. high

Technical Price at 103.56 is trading above the 200-day MA of 99.46.

Peers on Argus

TROW was down 1.72% while key peers like CG (+4.11%), NTRS (+3.2%), TPG (+2.21%), and PFG (+2.5%) gained; OWL declined 1.92%, suggesting mixed sector action rather than a unified move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 08	Retirement survey release	Neutral	-1.9%	Global survey of over 7,000 savers on retirement expectations and risks.
Dec 01	Client financing news	Neutral	-0.8%	Financing package totaling $200 million to support Omni Fiber expansion.
Nov 19	2026 market outlook	Neutral	-0.1%	Experts shared 2026 global financial market outlook and portfolio tilts.
Nov 19	Podcast with LLY CEO	Neutral	-0.1%	C-suite podcast episode on global health care transformation and chronic disease.
Nov 13	Retirement podcast launch	Neutral	-1.0%	Launch of Season 5 of ‘Confident Conversations on Retirement’ podcast series.

Pattern Detected

Recent TROW news has focused on research, thought leadership, and marketing initiatives, with modestly negative next-day price reactions across these events.

Recent Company History

Over the last month, TROW’s news flow centered on retirement research, client education, and market outlooks. On Nov 13, it promoted a new podcast season on retirement planning. On Nov 19, it shared a 2026 market outlook and a health care–focused podcast episode, followed by a global retirement survey on Dec 8. Price reactions after these announcements were mildly negative, suggesting limited immediate trading impact from such branding and insight-focused releases.

Market Pulse Summary

This announcement highlighted OHA’s first dedicated senior private lending fund, OLEND, with $17.7 billion of total available capital and $8.0 billion in equity commitments, targeting companies above $75 million in EBITDA. TROW’s partnership role underscores its connectivity to growing private credit markets. Investors may watch how such relationships translate into advisory revenues, product distribution benefits, or cross-platform opportunities relative to the firm’s existing asset management and retirement franchises.

Key Terms

unitranche loans financial

"focusing on first lien and unitranche loans to companies with greater than $75 million"

Unitranche loans combine what would normally be two layers of lending — one that gets paid first and one that is paid later — into a single loan with one interest rate and one set of documents. Think of it as putting a mortgage and a second loan into one envelope: it simplifies and speeds up borrowing while usually carrying a higher interest rate to compensate for added risk. Investors care because unitranche debt changes the balance of risk and return, recovery prospects if a borrower defaults, and how easily the debt can be traded or refinanced.

ebitda financial

"unitranche loans to companies with greater than $75 million of EBITDA."

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

sovereign wealth funds financial

"range of global investors, including pension funds, sovereign wealth funds, insurance"

Sovereign wealth funds are large pools of money managed by a country's government, often built from profits earned from natural resources or other national revenues. They invest these funds in global markets to help secure the country's future financial stability and growth. For investors, these funds can influence markets because they have significant resources and long-term investment strategies.

AI-generated analysis. Not financial advice.

New York, New York, Dec. 11, 2025 (GLOBE NEWSWIRE) -- Oak Hill Advisors (“OHA”), a leading global credit-focused alternative asset manager, announced the final close of OHA Senior Private Lending Fund (“OLEND”), the first vintage of OHA’s dedicated senior private lending strategy. OLEND and its related vehicles have raised $17.7 billion of total available capital across their levered and unlevered offerings, including $8.0 billion of equity commitments. 

OLEND seeks to capitalize on the growing opportunity for direct lending to larger companies, focusing on first lien and unitranche loans to companies with greater than $75 million of EBITDA. Supported by OHA’s industry-specialist investment teams, the fund will invest primarily in North America and across a wide range of industries that OHA considers recession-resistant.

“OLEND is OHA’s largest flagship fundraise in our history,” said Glenn August, Founder and Chief Executive Officer at OHA. “The team is looking forward to seizing on the market opportunity in senior private lending, and we are grateful for our partnership with existing and new investors.”

OHA has invested hundreds of billions of dollars in the leveraged finance markets for more than three decades and has established a strong position in the private credit market. OLEND will seek to expand this legacy by leveraging OHA’s deep underwriting expertise and focus on downside protection to deploy capital.

“OLEND is a natural extension of OHA’s established credit investing platform, which has evolved significantly over recent years to capitalize on the accelerated growth of the private credit market and the attractive relative value of unitranche financings,” said Alan Schrager, Portfolio Manager and Senior Partner at OHA. “As market dynamics have become increasingly conducive to new leveraged buyout transactions and corporate growth initiatives, we believe OLEND is well-positioned to capitalize on increased deal flow.”

OLEND’s investor base reflects a diverse range of global investors, including pension funds, sovereign wealth funds, insurance companies, endowments and family offices. OHA’s partnership with T. Rowe Price contributed meaningfully in this fundraise and has been helpful in forging new relationships to enhance the platform. OLEND is positioned with substantial purchasing power, which OHA believes enables the firm to continue demonstrating transaction leadership and investing with conviction in higher quality private credit opportunities.

“We believe OLEND’s breadth of investors reflects the fund’s versatility, as well as the compelling investment opportunity in senior direct lending,” said Eric Muller, Portfolio Manager and Partner at OHA. “We look forward to deploying fund capital with an investment strategy that seeks to deliver consistent returns and create long-term value for our investors.”

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About OHA: OHA is a leading global credit-focused alternative asset manager with over 30 years of investment experience. OHA works with institutions and individuals and seeks to deliver a consistent track record of attractive risk-adjusted returns. The firm has approximately $108 billion in assets under management (AUM) across credit strategies, including private credit, distressed and special situation investments, high yield bonds, leveraged loans and collateralized loan obligations as of September 30, 2025. Additional information on OHA’s AUM calculation methodology can be found on the OHA website. OHA’s emphasis on long-term partnerships with companies, sponsors and other partners allows for the provision of customized credit solutions across market cycles.

With over 420 experienced professionals across six global offices, OHA brings a collaborative approach to offering investors a single platform to meet their diverse credit needs. OHA is the private markets platform of T. Rowe Price Group, Inc. (NASDAQ – GS: TROW). For more information, please visit www.oakhilladvisors.com.

Natalie Harvard, Head of Investor Relations & Partner
Oak Hill Advisors, L.P.
212-326-1505
nharvard@oakhilladvisors.com

Kristin Celestino, Vice President, Public Relations
Oak Hill Advisors, L.P.
817-215-2934
kcelestino@oakhilladvisors.com

FAQ

What did Oak Hill Advisors and T. Rowe Price announce about OLEND on December 11, 2025?

They announced the final close of OLEND with $17.7B total capital and $8.0B equity commitments.

What types of loans will OLEND (TROW) invest in and what borrower size is targeted?

OLEND will focus on first‑lien and unitranche loans to companies with >$75M EBITDA.

How much equity capital did OLEND raise in the final close?

OLEND raised $8.0 billion of equity commitments.

Where will OLEND primarily deploy capital and what industries will it target?

OLEND will invest primarily in North America across industries the firm identifies as recession‑resistant.

How does OHA describe OLEND’s strategic advantage for investors?

OHA cites its industry specialist teams and deep underwriting expertise focused on downside protection to deploy the fund.