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White Oak collects up to $2.3bn for latest private credit fund, specialty finance investing

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Debt-focused asset manager White Oak Global Advisors has raised up to $2.3bn of capital commitments for its private credit fund and to make investments in specialty finance, with a focus on asset-based lending.

The $1.3bn White Oak Yield Spectrum Fund V will primarily be used to invest in lending opportunities from non-sponsored small and medium sized businesses. The firm offers over 20 lending products including corporate lending, commercial finance, equipment leasing and structured finance.

 

80% of the Fund had already been deployed.

An additional commitment of up to $1bn was received for specialty finance investing.

Andre Hakkak, co-founder and CEO at White Oak, said, “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.”

White Oak has invested more than $10bn in direct lending opportunities since 2007 and had deployed over $2.7bn in 2020.

It bought into non-bank trade receivables finance platform Finacity last month.

The firm closed its White Oak Yield Spectrum Fund on $2.1bn in 2018, surpassing its $1.75bn target.

Its previous flagship fund – White Oak Summit Fund – closed on approximately $1.3bn of commitments in 2016.

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