Overview Highlights Third quarter of management under Oak Hill Advisors, L.P. (OHA) Cory Gilbert joined as our new CFO NAV of 7.16 per share, a 1.5% decline in NAV driven by three legacy energy investments Q2 2015 dividend…
Section 2 Financial Results Page 5
Financial Results Q2 2015 Summary Investment income of 5.9 MM, or 0.29 per share Weighted average portfolio yield of 10.9% on fair value and 9.4% on cost Base management fee of 715 K and incentive fee of 139 K Net investment…
Financial Results NAV per share declined 1.5% in Q2, primarily as a result of lower valuations on 3 energy assets 9 8 7.27 0.12 0.03 0.12 0.14 7.16 7 6 5 4 3 2 1 0 3/31/2015 Q2 NII Share Q2 Dividend Net Realized /…
Financial Results Statement of Operations (in 000s) Q2 2015 Q1 2015 Q2 2014 Investment income 5,914 4,816 5,513 Costs related to strategic alternatives review -- -- 207 Management and incentive fees 854 678 1,306 Other G&A 1,638…
Portfolio Review Unrealized losses driven by ATP / Shoreline / Contour partially offset by recovery in Talos Net New % of % of Principal/ Value at Investments Write-up / Value at Principal/Total Portfolio (in 000's) Total Sum 3/31/15…
Portfolio Review Current weighted average yield of 10.9% on fair value basis as of June 30, 2015 Principal/ Current Current % of Total Fair Yield at Yield at Portfolio (in 000's) Sum Cost Value Cost Fair Value Value 7-10% Fair Value…
Portfolio Review Energy exposure reduced from 74% at 9/30/14 to 52% at 6/30/15(1) September 30, 2014 June 30, 2015 Coal Financial Medical Services Services / Supplies Medical CLOs Other 4% 2% 5% Supplies 4% 4% Home Health…
Portfolio Review Portfolio value is derived from 15 active investments at 6/30/15 vs. 10 at 9/30/14(1) September 30, 2014 June 30, 2015 HEH WASH Contour 3% HEH 2% 2% Spirit Gramercy 2% 5% Contour Park 4% 4% Hanson 4% Kova…
Portfolio Review Portfolio Structures and Characteristics as of 6/30/15(1) Structure Fixed vs. Floating(2) CLO Equity / Residual Royalties Interests 1% 4% Senior Secured Debt Redeemable 4% Preferred Units Second Lien 28%…
Portfolio Review Investment portfolio increased 27 MM since OHA assumed management on 9/30/14 77.5 1.5 19.1 198.0 200 MM 171.0 32.9 150 MM 100 MM 50 MM 0 MM 9/30/14 Realizations New PIK / OID Change in 6/30/15…
Section 4 Stock Repurchase Program Page 17
Stock Repurchase Program Repurchased 2% of outstanding shares during 2015 During Q2, OHAI repurchased 297,333 shares for 1.6 MM, at an average price of 5.47 per share During July, OHAI completed the 2.4 MM program, purchasing an…
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 77.5 MM In New Investments Under OHA Management Q4 2014 four investments totaling 37.2 MM Q1 2015 two investments totaling 21.2 MM Q2 2015 investments three investments totaling 19.0 MM Royal…
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