Advising OHA on final close of $17.7 billion of total available capital for Senior Private Lending strategy

We have acted as Cayman Islands legal counsel to Oak Hill Advisors (OHA) in connection with the final close of OHA Senior Private Lending Fund (OLEND) and its related vehicles, which together represent $17.7 billion of total available capital, including $8 billion of equity commitments.

OLEND marks the first vintage of OHA’s dedicated senior private lending strategy and is the largest flagship fundraise in OHA’s history. The fund will focus on direct lending to larger companies, primarily in North America, through first lien and unitranche loans to businesses with EBITDA greater than $75 million.

Our multidisciplinary team was led by Bicrom Das alongside Jenna Wong, Arezou Rezai, and Ashani Francis-Collins from the funds group; Andrew Howarth from regulatory and risk advisory; and Hugh Anderson and Katie Fleming from our finance team.

Commenting on the transaction, Bicrom Das, partner in our Cayman Islands Funds group, said: 'We are delighted to have supported OHA on this landmark fundraise, which underscores the continued growth and sophistication of private credit strategies. This transaction reflects the strength of Cayman Islands structures in facilitating global investment opportunities.'

The Walkers team advised on all Cayman Islands legal aspects of the fund formation, structuring, regulatory perimeter and financing, supporting OHA’s efforts to establish a platform designed to capitalise on the growing private credit market.