Oak Hill Advisors has held the final closing of OHA Newbury Partners, a USD1.2 billion fund which invests in the US residential mortgage market by through whole loans and other mortgage-related investments.
The Fund’s limited partners comprise a diverse and global group of institutional investors, including sovereign wealth funds, pension plans, endowments and foundations, insurance companies and family offices. They include both new and existing OHA relationships.
Glenn August, Founder & Chief Executive Officer of OHA, says: “We are proud of the residential mortgage investment capability we have built at the firm. Consistent with OHA’s approach over more than two decades of investing in corporate credit, our team invests on the basis of a deep, fundamental understanding of underlying mortgages and the properties which collateralise them.”
In 2008, OHA hired Jason Serrano, who serves as the Portfolio Manager for the Fund, to lead its U.S. residential mortgage investing team. Serrano has been an investor in performing and distressed residential mortgage backed securities, whole loans, and other residential mortgage-related assets over the past 10 years.
Serrano says: “We look forward to continuing to leverage our relationships and residential home and loan analytics platform to source, analyse and invest in attractive residential mortgage investment opportunities. We are excited about the favourable supply/demand dynamics that exist in today’s whole loan market and our ability to generate attractive returns for our limited partners.”