Indiana taps two Oaks for separate accounts

The $30 billion Indiana public pension plan is investing with both Oak Hill Advisors and Oaktree Capital Management for broad fixed-income separate accounts.  

The $30 billion Indiana Public Retirement System has invested $250 million with Oak Hill Advisors and $100 million with Oaktree Capital Management for broad fixed-income separate accounts. The two mandates were funded over the past two months, according to recently released documents from the Indiana system.

The mandates will “invest across multiple sectors including, but not limited to, high-yield, bank loans and securitized products,” documents from Indiana PRS showed. Spokeswoman Jennifer Dunlap declined to describe the investments further. The money was funded from terminating contracts with some of Indiana’s public equity managers.

Oak Hill Advisors is headquartered in New York and headed by chief executive Glenn August. The firm manages $25.5 billion in a variety of liquid and illiquid credit strategies, including private debt funds, CLOs, hedge funds and a new BDC, the management of which Oak Hill took over from NGP Capital Resources in September 2014. The firm is meant to be raising a new global distressed debt fund this year, as PDI previously reported.    

Howard Marks leads Oaktree Capital as its chairman at the firm’s head office in Los Angeles. The firm handles $83.6 billion in a range of credit strategies, including corporate debt, convertible securities, distressed debt, control investments and real estate. The firm is in the midst of raising a $10 billion pool of capital for its next distressed fund, the Oaktree Opportunities Fund X.