Oak Hill Advisers, the debt- and credit-focussed investment firm, has hired Goldman Sachs veteran Alexandra Jung as its European co-head. Jung will lead the firm’s European activity alongside Oak Hill’s incumbent European head, Richard Munn.
The appointment follows the final close last week of the OHA Strategic Credit Fund, which was oversubscribed to the tune of 50 percent. The fund reached $1.1 billion, exceeding the firm’s initial target of $750 million. The fund was initially formed in March 2008 and began investing in October 2008.
Jung joins Oak Hill from US-based credit investment firm Grey Wolf Capital Management, where as managing director she helped the firm expand into Europe and was responsible for investments in European performing and distressed credit. Prior to this she was a member of Goldman Sachs’ distressed bank loan group and a founder member of the bank’s European special situations group.
Richard Munn joined Oak Hill in May 2005 to establish its London office. He is currently director of the syndicated loan market’s industry body, the Loan Market Association and before joining Oak Hill was managing director and head of loan syndications at Deutsche Bank for Europe and Asia.
Since January 2008, Oak Hill has grown its investment team by 16 professionals, the firm said in a statement this morning. During this time, the firm has raised more than $3 billion of net new capital.
Oak Hill Advisors manages $11.5 billion of committed capital across hedge, distress, long only and other credit products. It focuses on North America and Europe from its offices in New York, Fort Worth and London and is affiliated with mid-market private equity firm Oak Hill Capital Partners.