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XA Investments Contributes to Citywire Article on T. Rowe Price’s First Interval Fund

Tania Mitra discusses T. Rowe Price’s forthcoming launch of its first interval fund, the T. Rowe Price OHA Flexible Credit Income fund, through Oak Hill Advisors (OHA). The article published on July 3, 2024, “T. Rowe Price plans first interval fund for private credit shop Oak Hill,” features insights from Kimberly Flynn, President of XA Investments.

The fund aims to invest up to 50% of its assets in direct lending and up to 30% in various other credit strategies including junior capital solutions, structured credit, liquid credit, special situations and real asset credit. Flynn noted the fund would “represent the best of what OHA has to offer in credit.” It will offer three share classes and charge an ‘income incentive’ fee in addition to its base management fee. The fund plans to conduct quarterly share repurchases between 5-25% of its outstanding shares at NAV and will impose a 2% fee on withdrawals during its first year. This move follows T. Rowe Price’s acquisition of OHA in 2021 as part of T. Rowe Price’s broader strategy to expand into private markets.

To read the full article, please click here.

For more information on interval funds, please visit our CEF Market Research page. Click ‘Subscribe’ for access to XAI’s new online research portal and pricing info. The in-depth XA Investments Quarterly Market Updates for Non-Listed CEFs and Listed CEFs provide actionable insights and consolidated data, including market statistics, IPOs, recent fund filings, sponsor data, and market overview information.

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