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Oak Hill Advisors Appoints Two Senior Advisors

March 26, 2014, 07:15 AM

Oak Hill Advisors, L.P. ("OHA") announced that Steve Jones and Eric Karp have joined the firm as senior advisors. Based in New York, Jones and Karp will help guide the firm's activities in private lending. They join an investment team with differentiated sourcing capabilities and more than two decades of experience investing in credit.

Jones brings to OHA more than 30 years of leveraged finance experience. Most recently, he was a partner at Plainfield Asset Management, where he served as president of the firm's specialty finance business. Prior to that, he spent more than 20 years at Salomon Brothers and its successor entities (Salomon Smith Barney and Citigroup). Jones was a founding member of Salomon Brothers' high yield department and subsequently became the head of Global Leveraged Finance. Later, he created Citigroup's Global Loan Portfolio Management group and launched and led the bank's Global Structured Credit Products Group.

Karp joins OHA with more than 30 years of banking and leveraged finance experience. Most recently, he served as a senior advisor to Sankaty Advisors, the credit affiliate of Bain Capital. His experience also includes senior roles at both Bank of America and J.P. Morgan, where he was global head of each bank's financial sponsors group. Additionally, Karp served as a senior member of each of the bank's capital commitment and risk committees.

Glenn August, founder & chief executive officer of OHA, said, "We are delighted to welcome these two highly talented and seasoned professionals to our team. Steve brings deep knowledge of the leverage finance market, with particular expertise in private markets and complex credit investments. Eric's arrival meaningfully deepens our private lending capabilities and enhances OHA's access to his many relationships across the banking, issuer and financial sponsor universe. We look forward to their contributions to the firm."

OHA is a leading independent investment firm specializing in performing and distressed investments across the North American and European leveraged and structured credit markets. With more than $21 billion of capital, OHA manages distressed funds, credit hedge funds, customized mandates and other specialty credit funds.

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