Overview Highlights Second quarter of management under Oak Hill Advisors, L.P. (OHA) NAV of 7.27 per share 3% decline in NAV driven by four legacy energy investments Q1 2015 net investment income per share of 0.11 Q1 2015…
Section 2 Financial Results Page 5
Financial Results Q1 2015 Summary Weighted average portfolio yield of 10.9% on fair value and 9.4% on cost Investment income of 4.8 MM, or 0.23 per share Management fees of 0.7 MM Net investment income of 2.2 MM, or 0.11 per…
Financial Results NAV per share declined 3% in Q1, primarily as a result of lower valuations of four energy assets 9 8 7.48 0.11 0.12 0.20 7.27 7 6 5 4 3 2 1 0 12/31/14 NAV Q1 NII Q1 Dividend Net Realized / 3/31/15…
Financial Results Statement of Operations (in 000s) Q1 2015 Q4 2014 Q1 2014 Investment income 4,816 5,175 5,858 Costs related to strategic alternatives review -- 23 457 Management fees 678 696 1,346 Other G&A 1,295 1,290 1,509…
Financial Results (in 000s) Q1 2015 Q4 2014 Q1 2014 Realized capital gains (losses): Chroma -- (4,314) -- GMX -- -- (9,382) Other realized gains (losses), net (21) -- (230) Total realized capital gains (losses), net (21) (4,314)…
Financial Results Net Asset Value Rollforward YTD March 2015 (in 000s) Per share Net asset value at 12/31/14 154,164 7.48 Talos reduction in value (2,523) (0.12) ATP / Bennu reduction in value (2,374) (0.12) Other net changes in…
Section 3 Portfolio Review Page 11
Portfolio Review Unrealized losses in energy portfolio partially offset by increased values in other sectors Net New PIK / OID/ % of % of Principal Value at Investments Write-up / Value at Principal at Portfolio (in 000's) at 3/31/15…
Portfolio Review Weighted average yield of 10.9% on fair value basis as of March 31, 2015 % of Yield at Yield at Portfolio (in 000's) Principal Cost Fair Value Cost Fair Value Value 7-10% Market Yields: Appriss second lien term…
Portfolio Review Energy exposure reduced from 74% at 9/30/14 to 56% at 3/31/15(1) September 30, 2014 March 31, 2015 Financial Coal Services / Medical Services Financial CLOs Supplies 4% Services 5% 4% Medical 5% Coal Home…
Portfolio Review Portfolio value is derived from 15 active investments at 3/31/15 vs. 10 at 9/30/14(1) September 30, 2014 March 31, 2015 HEH Contour Spirit Gramercy 3% 2% 1% Spirit Park 5% Contour 4% HEH Hanson Talos 4% 3%…
Portfolio Review Portfolio Structures and Characteristics as of 3/31/15(1) Structure Fixed vs. Floating(2) Equity CLO Securities / Residual Royalties Interests 1% 4% Senior Secured Debt 5% Redeemable Preferred Units Second…
Portfolio Review Investment portfolio increased 21.6 MM since OHA assumed management on 9/30/14 58.4 0.5 16.2 200 MM 192.6 171.0 21.1 150 MM 100 MM 50 MM 0 MM 9/30/14 Realizations New PIK / OID Change in 3/31/15…
Section 4 Stock Repurchase Program Page 18
Stock Repurchase Program 1.4 MM of Company shares repurchased 2.4 MM repurchase program announced on March 12, representing the maximum amount currently approved by the Companys lenders During Q1, we repurchased 72.5 K shares for…
Investment Strategy & OHA Overview Experienced Credit Market Specialist Since 1991(1) Experience across below investment grade corporate credit market, performing and distressed MULTI-STRATEGY Corporate structured products (CLOs,…
Investment Strategy & OHA Overview OHA Approach To Private Lending Transactions OHA has invested more than 3 B in private lending investments since 2002(1) Opportunistic credit-driven approach leveraging depth / breadth of credit…
Investment Strategy & OHA Overview New Investments / Enhanced disclosure Q4 2014 four investments totaling 37 MM Q1 2015 investments 18.7 MM Foundation Second Lien Term Loan 2.5 MM Hanson Second Lien Term Loan OHA believes its…
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