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Wafra Announces Strategic Partnership with Oak Hill Capital Partners

October 04, 2022, 07:35 AM
Filed Under: Private Equity News

Wafra Inc. (“Wafra”), a global alternative investment manager, announced that funds managed by Wafra have acquired a strategic minority ownership interest in Oak Hill Capital Partners (“Oak Hill” or “OHCP”), a middle-market private equity buyout firm. OHCP utilizes a theme-based investing strategy, focused on services, industrials, consumer and media & communications sectors. Wafra purchased the stake in OHCP from an affiliate of Jefferies Financial Group Inc.

The partnership with OHCP is a continuation of Wafra’s strategy of acquiring minority interests in established alternative asset management firms by utilizing a unique partnership-based approach. Control of OHCP’s investment processes, management and day-to-day operations will not be affected by this transaction.

“We are pleased to partner with Oak Hill, a distinguished group of investors whose current management team has accelerated the evolution of OHCP to a world class private equity firm. We look forward to embarking on this new chapter with them, working together to execute strategic initiatives and positioning the firm for continued growth. Their thematic approach is differentiated in the market and this thoughtful approach is reflected in all aspects of their business.” said Gustavo Cardenas, a Managing Director at Wafra.

Oak Hill is led by Managing Partners Tyler Wolfram, Brian Cherry and Steve Puccinelli who commented, “Partnership is a core tenet underlying our firm, and in Wafra we found an aligned partner with a demonstrated ability to collaborate with investment firms such as ours to accelerate our vision for Oak Hill, our investors and our stakeholders. We are excited to enter this next phase of OHCP’s growth with the support of Wafra, a leader and long term participant in strategic partnerships. Wafra’s investment is a strong endorsement of the systematic investment approach and partnership philosophy that OHCP has employed for over 35 years. We look forward to a long and rewarding partnership with the Wafra team.”

This transaction comes nearly a year after Wafra sold its participation in Oak Hill Advisors “OHA”, a leading alternative credit manager, to T. Rowe Price. OHA, whose heritage also includes affiliation with the family office of Robert M. Bass, is unaffiliated with OHCP, and remains a standalone business within T. Rowe Price.

Oak Hill was advised by Evercore as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal counsel. Wafra was advised by Fried, Frank, Harris, Shriver & Jacobson LLP as legal counsel.

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