White Oak Global Advisors completed fundraising for White Oak Yield Spectrum Fund V and other associated vehicles with more than $1.3 billion of total committed capital. An additional commitment of up to $1 billion was received for investments in specialty finance with a focus on asset-based lending. The capital for the fund was raised from institutional investors with support from pension funds, insurance companies and other institutional investors.
“We are grateful to our investors who have continued to support us through new commitments and deeper partnerships in each successive vintage,” Andre Hakkak, co-founder and CEO of White Oak, said. “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.”
The fund’s investments will be primarily directly originated lending opportunities from non-sponsored small and medium-sized businesses. White Oak pursues a lending strategy akin to traditional bank lending and, with its financing affiliates, offers more than 20 lending products, including corporate lending, commercial finance, equipment leasing, structured finance and other specialty lending solutions. White Oak and its affiliates invest across sectors and have dedicated expertise in areas like aviation, healthcare and real estate lending.
Since the firm’s founding in 2007, White Oak has invested more than $10 billion in direct lending opportunities. In 2020 alone, White Oak deployed more than $2.7 billion and more than 80% of the new fund’s capital has already been deployed. White Oak recently purchased Finacity, a non-bank trade receivables finance platforms that originates and securitizes more than $100 billion of trade receivables yearly.
Campbell Lutyens acted as placement agent working in conjunction with the White Oak business development team. Kirkland & Ellis provided legal counsel.
