DARIEN, Conn., Oct. 08, 2020
Old Hill Partners Inc. announced the final closing of its second fund, OHP II LP. The fund, launched in November 2017, was open for monthly subscriptions and closed its capital raise period on September 30, 2020. The capital was raised from family offices, wealth managers, and institutional investors.
The investment objective of the Fund is to generate current income and preserve capital by investing in a diverse portfolio of senior secured loans to corporate and asset-backed borrowers, principally in the U.S. The Fund seeks to generate attractive and uncorrelated risk-adjusted returns by investing in a diversified range of private asset-backed lending transactions in areas where conventional capital is scarce. Capital preservation is emphasized through strong asset collateral coverage and alignment-of-interest with borrowers.
“The closing of the capital raise period for the Fund is a significant milestone in the efforts to serve our investors,” said Jeff Haas, Chief Operating Officer at Old Hill. “The firm’s investment team demonstrated the strength of its underwriting in these unusual times and Old Hill’s operational preparedness was successfully tested.”
“We operate in an underserved segment of the lending market that requires specialized knowledge and that is being avoided by big traditional banks due to regulatory constraints, which allows us to be very selective in the deals we invest in,” said Peter Faigl, Senior Portfolio Manager at Old Hill, “and in this market environment, we are seeing increased deal flow as other lenders pull back and government liquidity programs mainly focus on large companies.”
Old Hill Partners provides asset-based lending solutions for borrowers seeking $5 to $35 million in financing. The firm structures senior secured debt in the form of term, draw down, and revolving-to-term facilities of up to five years and loan-to-value ratios in the range of 35% to 85%. Collateral types include pools of loans or leases (specialty finance), receivables, inventory, machinery, and equipment.
Old Hill Partners Inc. is an alternative asset manager focused on asset-based lending transactions with small- and medium-sized businesses. As an SEC-registered investment advisor, we operate at the crossroads of investors seeking attractive risk-adjusted yields and emerging companies seeking capital for expansion, acquisitions or growth.
Old Hill Partners Inc.
1120 Boston Post Road
Darien, Connecticut 06820
Phone: 203 656 3004