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White Oak Global Advisors Closes Fifth Generation Private Credit Funds at Total Raise of Up to $2.3B

October 21, 2021, 08:00 AM
Filed Under: Industry News

White Oak Global Advisors has successfully completed fundraising for White Oak Yield Spectrum Fund V (“the Fund”) and other associated vehicles with over $1.3 billion of total committed capital. An additional commitment of up to $1.0 billion was received for investments in specialty finance with a focus on asset-based lending.

The capital for Fund V was raised from institutional investors worldwide with significant support from pension funds, insurance companies and other institutional investors.

Andre Hakkak, Co-Founder and CEO at White Oak, commented, “We are grateful to our investors who have continued to support us through new commitments and deeper partnerships in each successive vintage. We are also excited to welcome new investors to the White Oak family and appreciate their confidence in our team's ability to execute a diversified lending strategy that provides attractive risk-adjusted returns."

The Fund’s investments will be primarily directly originated lending opportunities from non-sponsored small and medium sized businesses that are the bedrock of the global economy. White Oak pursues a lending strategy akin to traditional bank lending and, with its financing affiliates, offers over 20 lending products including corporate lending, commercial finance, equipment leasing, structured finance and other specialty lending solutions. White Oak and its affiliates invest across sectors, and have dedicated expertise in areas like aviation, healthcare and real estate lending.

Since the firm’s founding in 2007, White Oak has invested more than $10 billion in direct lending opportunities. In 2020 alone, White Oak deployed over $2.7 billion and over 80% of the Fund V capital has already been deployed. White Oak recently purchased Finacity, one of the largest non-bank trade receivables finance platforms in the world, which originates and securitizes over $100 billion of trade receivables yearly for the benefit of global banks and insurance companies.

Campbell Lutyens & Co. Ltd acted as placement agent working in conjunction with the White Oak business development team. Kirkland & Ellis provided legal counsel.

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