Oak Hill Advisors closed OHA Newbury Partners, a distressed residential mortgage fund, at $1.2 billion.
The fund “seeks to capitalize on the dislocation in the U.S. residential mortgage market by investing in whole loans and other mortgage-related investments,” according to a news release.
Among investors in the fund is the $15.2 billion Louisiana Teachers' Retirement System, Baton Rouge.
A company spokesman could not provide names of other institutional investors, but in the news release Oak Hill Advisors said investors also include sovereign wealth funds, foundations and endowments, insurance companies and family offices.
