Kuwait’s Wafra Buys a Stake in Oak Hill Capital Partners

Posted on 10/03/2022

New York-based Wafra Inc. announced that funds managed by Wafra have acquired a strategic minority ownership interest in Oak Hill Capital Partners (OHCP), a middle-market private equity buyout firm. Oak Hill Capital Partners utilizes a theme-based investing strategy, focused on services, industrials, consumer and media & communications sectors. Wafra purchased the stake in Oak Hill Capital Partners from an affiliate of Jefferies Financial Group Inc. Wafra is owned by Kuwait’s Public Institution for Social Security (PIFSS).

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.

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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