T. Rowe Price Overseas Stock Fund - Advisor Class · NASDAQ:PAEIX
T. Rowe Price Overseas Stock Fund - Advisor Class — T. Rowe Price OHA Select Private Credit Fund (OCREDIT) — Investor Presentation (2023)
23 slides from T. Rowe Price Overseas Stock Fund - Advisor Class's investor presentation, 2023
Slide 1: T. Rowe Price OHA Select Private Credit Fund (OCREDIT) 3Q 2023
T. Rowe Price OHA Select Private Credit Fund (OCREDIT) 3Q 2023
Slide 2: Introducing T. Rowe Price OHA Select Private Credit Fund (OCREDIT)
Introducing T. Rowe Price OHA Select Private Credit Fund (OCREDIT) 2
Slide 3: Introducing OCREDIT
Introducing OCREDIT OCREDIT is a Non-traded Perpetual Business Development Company (BDC) T. Rowe Price OHA Select Private Credit Fund (“OCREDIT”) delivers an institutional-quality(1) private credit solution for income-focused investors that is designed to provide(2): ■ Attractive risk-adjusted retur
Slide 4: Introducing OHA
Introducing OHA OHA is a Leading Global Alternative Credit Investment Specialist OHA has a depth of experience providing financing solutions in private and public markets (2) Trusted advisor to many of the world’s $61 B Total Current largest and most sophisticated investors Capital Under ■ Deep rela
Slide 5: Why Private Credit?
T.RowePrice’ Why Private Credit?
Slide 6: Why Private Credit? Key Asset Features
Why Private Credit? Key Asset Features Private credit typically refers to loans directly originated and negotiated between a borrower and the lender or a small group of lenders, such as OHA, instead of an intermediary bank Private credit can offer several attractive investment characteristics Potent
Slide 7: Potential Advantages to Investors of Private Credit
Why Private Credit? Potential Advantages to Investors of Private Credit ■ Allocating to private credit may increase potential returns while lowering volatility ■ Private credit has generated positive returns in prior periods when investors faced weaker equity markets and higher interest rates — as e
Slide 8: Demand for Private Financings from Borrowers Continues to Grow
Why Private Credit? Demand for Private Financings from Borrowers Continues to Grow ■ Private financing solutions offer borrowers several advantages Borrower Benefits of Private Solutions vs. Traditional Markets Partnership Execution with lender Efficiency Private Certainty of Confidentiality Credit
Slide 9: Bank Retrenchment Transformed Financing Markets
Why Private Credit? Bank Retrenchment Transformed Financing Markets ■ Structural change has resulted in more constrained and fragile syndicated markets ■ Private lending evolved into a reliable financing source through environments, including periods of market turbulence Opportunities for Non-Bank L
Slide 10: Private Credit Market Share Has Grown in a Growing Market
Why Private Credit? Private Credit Market Share Has Grown in a Growing Market ■ Private credit market share has grown by over 7x since 2010 to 15% of the global leveraged finance market ■ The leveraged finance market has grown by over 2x during the same time period ■ Larger borrowers increasingly se
Slide 11: Attractive Potential Returns
Why Private Credit? Attractive Potential Returns ■ Potential returns increased meaningfully driven by higher rates and repricing of risk (spread and OID) Illustrative Unitranche Pricing $97 - 98 Original Issue Discount 5.75% - 6.25% Spread $97 - 99 Original Issue Discount 5.0% - 5.5% Spread 5.0%+ 3M
Slide 12: Why OCREDIT?
Why OCREDIT? T.RowePrice’ 12
Slide 13: Access to OHA's Private Credit through an Investor-Friendly Structure
Why OCREDIT? Access to OHA’s Private Credit through an Investor-Friendly Structure Combines OHA’s institutional-quality(1) private credit strategy with an investor-friendly structure Institutional-Quality(1) Private Credit Access Traditionally reserved for OHA’s institutional investors, OCREDIT prov
Slide 14: OHA Edge: Proven and Consistent Capabilities and Approach
Why OCREDIT? OHA Edge: Proven and Consistent Capabilities and Approach Time-tested and differentiated approach designed to capitalize on growing private credit opportunity Companies and private equity sponsors value OHA’s expertise, independence and reliability which Trusted Partner enhances our abi
Slide 15: Highly Disciplined and Consistent Investment Approach
Why OCREDIT? Highly Disciplined and Consistent Investment Approach OHA has developed a consistent, highly selective investment process that harnesses the firm’s full capabilities across: Sourcing Due Diligence Execution • Investment activity of $61 B Capital • Deep, fundamental “private equity- • Ca
Slide 16: Highly Experienced Team Leverages Industry-Specialist Model
Why OCREDIT? Highly Experienced Team Leverages Industry-Specialist Model OCREDIT Investment Committee Glenn August Alan Schrager Eric Muller Thomas Wong Harpreet Anand Founder & OHA Chief Portfolio Manager & Portfolio Manager & Portfolio Manager & Portfolio Manager & Executive Officer Senior Partner
Slide 17: OHA is a Leading Private Credit Investor
Why OCREDIT? OHA is a Leading Private Credit Investor OHA has built a meaningful market position in private credit since 2002 ■ Growth in OHA’s private lending Private Credit Invested Capital Since Inception business reflects increasing demand for private solutions from larger corporations ■ OHA has
Slide 18: OCREDIT Target Portfolio
Why OCREDIT? OCREDIT Target Portfolio OCREDIT invests in a diversified portfolio of senior secured, privately originated loans to established companies Directly Originated Private Investment Target Profile (1) • Larger corporations with $1 B + enterprise value Borrower Profile • Market leading, typi
Slide 19: Why OCREDIT Now? The Right Strategy at the Right Time
Why OCREDIT? Why OCREDIT Now? The Right Strategy at the Right Time Aims to be an • Strategy designed to generate premium yields in different market environments Institutional quality(1) • Originating customized private financing solutions for select borrowers structured with “all-weather” private st
Slide 20: Fund Terms Provide Accessibility and Convenience
Why OCREDIT? Fund Terms Provide Accessibility and Convenience Structure • SEC registered non-exchange listed business development company (BDC)(1) Registered Offering • $2.5 B initial registration Subscriptions • Monthly subscriptions at monthly NAV Distributions • Monthly Expected Liquidity(2) • Qu
Slide 21: Key Risks & Disclosures
Key Risks & Disclosures Key Risks and Disclosures The T. Rowe Price OHA Select Private Credit Fund (“OCREDIT”) is a non-exchange traded business development company (“BDC”) that expects to invest at least 80% of its total assets (net assets plus borrowings for investment purposes) in private credit
Slide 22: Additional Disclosure Information
Key Risks & Disclosures Additional Disclosure Information This material was not created by any third-party registered broker-dealers or investment advisers who are distributing shares of OCREDIT (each, a “Dealer”). The Dealers are not affiliated with OCREDIT and have not prepared the material or the
Slide 23: Key Risks & Disclosures
Key Risks & Disclosures OCREDIT is “non-diversified,” meaning it may invest a greater portion of its assets in a single company. OCREDIT’s share price can be expected to fluctuate more than that of a comparable diversified fund. OCREDIT may invest in derivatives, which may be riskier or more volatil
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