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All investments involve risk, including possible loss of principal. Carefully consider key risk factors prior to investing.

OCREDIT Portfolio

OCREDIT invests in a diversified portfolio of primarily senior secured, privately originated floating rate loans to well-established companies in North America and Europe.

Asset Types


Investor Resources

Press Release


Subscription Agreement

Fact Sheet

Fund Overview

Investor Presentation

Introduction to BDCs

Introduction to Private Credit

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Individual Investors

Talk to your financial adviser to learn more about the T. Rowe Price OHA Select Private Credit Fund

Financial Professionals and Institutional Investors

T: +1 (877) 561-7670


  1. OCREDIT seeks to provide the same type of private credit investment solution to individual investors that was previously largely only available to OHA's institutional clients.
  2. Portfolio construction seeks to achieve targeted income-oriented returns through different market environments capitalizing on OHA's experience investing through multiple market cycles.
  3. As of September 30, 2023. Includes net asset value, portfolio value and/or unfunded capital. Uses respective USD exchange rates as of month-end for any non-USD assets. Additional information on calculation methodology is available upon request.
  4. As of June 2023.
  5. As of September 30, 2023. Represents the Total Investment Amount. Total Investment Amount reflects the initial par value of such Private Lending Investment at issuance in addition to the par value of any subsequent primary market purchases of such Private Lending Investment and/or the cost of any equity purchased. Private Lending Investments include what OHA believes to be non-broadly syndicated debt investments (whether bonds or loans) acquired in primary issuances that are sourced, originated, negotiated and/or structured by OHA.
  6. Diversification cannot assure a profit or protect against loss in a declining market.
  7. Floating rate coupons adjust with interest rates, and the seniority of loans helps protect principal if a borrower becomes challenged. Portfolio construction seeks to achieve targeted income-oriented returns through different market environments capitalizing on OHA's experience investing through multiple market cycles.
  8. Based on Sharpe ratios (a measure that indicates the average return minus the risk-free return divided by the standard deviation of return on an investment): Source: T. Rowe Price analysis as of 06/30/2023. Private credit represented by the Cliffwater Direct Lending Index. U.S. core bond represented by the Bloomberg U.S. Aggregate Bond Index. U.S. high yield represented by the Bloomberg U.S. Corporate High Yield Index. U.S. equities represented by the S&P 500 Index. View the white paper linked under “View Our White Paper” for more information.
  9. This vehicle made an election to be treated as a BDC on June 30, 2023. All terms and information subject to change.
  10. Not guaranteed; quarterly tender offers to repurchase shares are expected but not guaranteed. The Board of Trustees may amend, suspend, or terminate share repurchases at its discretion.
  11. Represents OHA’s objectives for leverage once the portfolio is fully ramped. Actual metrics are subject to change based on market conditions and may deviate from these objectives at various times.
  12. Non-U.S. investors will receive Form 1042-S.
  13. Certain states have additional suitability requirements.
  14. Based on OHA’s private lending investments 2018--2021.
  15. As of September 30, 2023, investible capital represents committed equity capital and total financing facility capacity for the Fund.
  16. As of November 30, 2023, the annualized distribution yield is calculated by multiplying the sum of the month's stated base distribution per share and variable supplemental distribution per share by twelve and dividing the result by the prior month's NAV per share. Distribution payments are not guaranteed. The Issuer may pay distributions from the sale of assets, offering proceeds, or borrowings.

* Other includes Retail Stores, Cargo Transport, Capital Equipment, Automobile, Printing and Publishing, Banking, Broadcasting and Entertainment, Buildings and Real Estate, Containers, Packaging and Glass, Construction and Building, Mining, Steel, Iron and Non-Precious Metals, and Technology and Electronics.