Adia unit commits to Oak Hill’s European special situations strategy

Adia to back Oak Hill’s European investments: A subsidiary of the Abu Dhabi Investment Authority (Adia) will invest in credit-focused asset manager Oak Hill Advisors’ (OHA) European special situations strategy, according to a press release (pdf). The strategy will offer flexible financing solutions for European corporate and non-corporate borrowers and will be run by OHA’s London-based special situations team.

About the company: OHA manages USD 98 bn across private credit, distressed and special situations, high-yield bonds, and leveraged loans. Active in European markets since 1992, the firm has deployed more than EUR 18 bn in the region, including EUR 7 bn in private transactions.

REMEMBER- Adia has been ramping up its exposure to private credit. It recently acquired a 5.1% stake in India’s IDFC First Bank for around USD 310 mn (INR 26.2 bn), anchored AlbaCore Capital Group’s USD 1.8 bn senior direct lending strategy, invested USD 200 mn in Australia’s Qualitas Diversified Credit Investments, put USD 831 mn into UK-based Cheyne Capital, and committed USD 1 bn to Barclays and AGL Credit Management’s joint fund.