T. Rowe Price and Oak Hill Advisors (OHA) have launched the T. Rowe Price OHA Flexible Credit Income Fund (OFLEX), a publicly offered interval fund designed to provide U.S. wealth clients with access to both private and public credit markets through a single vehicle. 

The fund will invest across a broad range of strategies, including direct lending, junior capital solutions, asset-based lending, CLOs, liquid credit and special situations, while offering daily purchase access and quarterly repurchase offers of at least 5% at net asset value. 

The launch marks the second joint product between the firms since T. Rowe Price acquired OHA in 2021, following the debut of a private credit-focused BDC in 2024. 

“OFLEX is built to seek to capitalize on our best ideas across the OHA platform, applying a consistent investment process and a rigorous focus on risk management as we pursue stable, income generating investments across both liquid and private credit markets,” said Glenn August, founder and CEO of OHA. 

“Clients are asking for solutions that manage risk while delivering consistent income, and interval funds offer flexibility and access to both private and public credit markets,” added Dee Sawyer, head of global distribution for T. Rowe Price. 

OHA manages approximately $111 billion in alternative credit assets, while T. Rowe Price oversees $1.8 trillion in assets. Beyond its OHA partnership, the firm has also launched co-branded model portfolios with Goldman Sachs Asset Management, including a portfolio focused on evergreen alternative funds.