Multi-strategy credit interval fund offers public and private market credit exposure with a flexible approach that can adapt to changing market conditions

OFLEX marks the continued partnership of T. Rowe Price and Oak Hill Advisors as they expand their alternative investment capabilities globally

T. Rowe Price and Oak Hill Advisors announced the launch of the T. Rowe Price OHA Flexible Credit Income Fund (‘OFLEX’ or ‘the Fund’), a multi-strategy credit interval fund that can invest across the credit spectrum in both private and public markets.

The Fund seeks to reach a broad range of investors as a publicly offered interval fund, expanding access to OHA’s range of alternative credit strategies. As an interval fund, OFLEX will be available for purchase on a daily basis via ticker-trading and will conduct quarterly repurchase offers of at least 5% of outstanding shares at Net Asset Value (‘NAV’).

OFLEX is a multi-strategy investment approach that provides a single point of entry into the broad alternative credit universe, with the flexibility to invest in private and public credit markets, including direct lending, junior capital solutions, asset-based lending, collateralized loan obligations (CLOs), liquid credit, and special situations. The Fund’s “all weather¹” strategy allows the investment team to seek opportunities through different market environments in areas that may offer attractive risk/return profiles during periods of market volatility, making the Fund an option to complement investors’ existing portfolio allocations.

“Multi‑strategy credit investing has been core to OHA’s DNA since inception,” said Glenn August, Founder & Chief Executive Officer of OHA. “OFLEX is built to seek to capitalize on our best ideas across the OHA platform, applying a consistent investment process and a rigorous focus on risk management as we pursue stable, income‑generating investments across both liquid and private credit markets.”

“In today’s evolving market environment, clients are asking for investment solutions that can help manage risk and provide consistent income. Interval funds offer a unique combination of flexibility and access to private and public credit markets, helping investors pursue their long-term financial goals,” said Dee Sawyer, Head of Global Distribution for T. Rowe Price. “OFLEX expands our suite of alternative investment offerings to meet this growing client demand.”

OFLEX draws on OHA’s three decades of experience in credit selection, structuring, and risk management. A core tenet of the firm’s investment process since inception has been a focus on downside protection, which has allowed OHA to successfully navigate multiple credit cycles.

With dedicated investment and client service professionals across the United States, OHA manages approximately USD$111 billion in alternative credit assets globally and has served U.S. institutional investors for over 30 years.

T. Rowe Price acquired OHA in 2021 to accelerate the firm’s expansion into alternative markets, complementing its existing global platform and ongoing strategic investments in core capabilities.

In 2024, T. Rowe Price and OHA launched their first joint offering, the T. Rowe Price OHA Select Private Credit Fund (‘OCREDIT’), a private credit investment solution for income-oriented individual investors with a non-traded, perpetual-life business development company (‘BDC’) structure.

Source: T. Rowe Price