White Oak Global Advisors funded over $2.5 billion in loans in 2018, while its affiliate, White Oak Healthcare Finance, closed on $1.4 billion in loans with more than 19 clients over the same time period.
“Over the past decade, White Oak has honed a specialized expertise in developing bespoke lending solutions to small- and mid-sized enterprises that keep our economy running. Our landmark year in 2018 demonstrates the growing need for such flexible capital,” said Andre Hakkak, White Oak co-founder and CEO. “In addition to developing new financing structures and solutions, we expanded our highly experienced team of originators across the U.S. and the UK, with a commitment to deepening expertise in our clients’ industries.”
In recent months, White Oak also added senior personnel focused on asset based lending and commercial finance.
“The strength of our platform is greatly supported by our affiliates, each of which has a strong record and years of experience in product- and sector-specific lending such as healthcare, aviation and asset-based lending,” said Darius Mozaffarian, White Oak co-president.
In September, White Oak announced the close of the White Oak Yield Spectrum Fund, the firm’s fourth flagship direct lending strategy. At $2.1 billion in total commitments, the fund and other associated vehicles exceeded their $1.8 billion target, a testament to White Oak’s performance track record and a reflection of the growing appetite from institutional investors for specialty finance lending assets.
As of year-end 2018, the fund has deployed over 60% of the capital raised and expects to be fully deployed by the second quarter of 2019. The firm currently manages over $5.6 billion of committed assets.
A portion of the $2.5 billion originated by White Oak Global Advisors went to its affiliates, including White Oak Healthcare Finance.