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Alternative Assets  + Private Debt  | 
T. Rowe Price Credit Fund Closes $300M Private Placement

T. Rowe Price Credit Fund Closes $300M Private Placement

T. Rowe Price’s OHA Select Private Credit Fund (OCREDIT) announced the closing of a $300 million private placement of 5-year senior unsecured notes.

The announcement was made along with the fund’s financial results for the fourth quarter and full year. Last year, OCREDIT returned a weighted average yield on debt and income-producing investments of 12.7%. Net investment income per share was $1.03 by the end of December 2023.

“We are pleased with OCREDIT’s performance and ramp to-date, having grown from $50 million in initial equity commitments to a billion-dollar-plus portfolio of high-quality investments,” Eric Muller, OCREDIT’s CEO said. “The company’s inaugural notes offering pursuant to a private placement marks a milestone in its capital management.”

As of December 31, 2023, the company’s investment portfolio was valued at more than $1.1 billion, comprised of investments in 90 portfolio companies. The investment portfolio was comprised of nearly 91% first lien senior secured loans and just over 9% second lien senior secured loans.

The OCREDIT is a non-diversified, closed-end management investment company.

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T. Rowe Price

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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