Investor Group Takes Minority Interest In Oak Hill Advisors

Vanessa Doctor

26 October 2011

Oak Hill Advisors, the New York investment management firm that specializes in distressed investments, has sold the minority stake held by iStar Financial to an investor group for an undisclosed amount.

The investor group is composed of General Atlantic, the growth equity firm, Robert M Bass, the founder of Oak Hill Investment funds and president of Keystone Group, and several members of Oak Hill's senior management. iStar bought an interest in the firm in 2005. The transaction automatically increases the Oak Hill management team's majority interest in the company and awards GA a minority interest.

Oak Hill Advisors has been managing funds and separate accounts invested in performing and distressed credit markets in both North America and Europe for over 20 years. Since January 2008, the company has raised more than $4 billion of net new capital from investors worldwide, including pension plans, sovereign wealth funds, insurance firms, foundations and family offices. To date, the company records $12.8 billion of capital in distressed funds, credit hedge funds, customized mandates and other specialty credit products.