T. Rowe Price Group, Inc. TROW and Oak Hill Advisors (“OHA”) have announced the launch of the T. Rowe Price OHA Flexible Credit Income Fund (OFLEX). The move marks another step in their efforts to expand alternative investment offerings for U.S. wealth clients.
OFLEX is a multi-strategy credit interval fund that invests across the credit spectrum, including private and public markets. The fund provides exposure to direct lending, asset-based finance, junior capital solutions, collateralized loan obligations (CLOs), liquid credit and special situations.
Structured as an interval fund, the fund aims to reach a broad range of investors by expanding access to OHA’s alternative credit strategies. It will be available for purchase on a daily basis and will offer quarterly liquidity through repurchase offers of at least 5% of outstanding shares at net asset value. This structure allows investors to access less-liquid private credit investments while maintaining a degree of liquidity.
OFLEX follows an “all-weather” investment approach, seeking to generate premium yields and capture opportunities across different market environments, including periods of volatility and higher interest rates. This enables the investment team to allocate capital dynamically across credit markets depending on opportunities and market conditions.
By combining multiple credit strategies into a single solution, the fund offers a diversified entry point into alternative credit with a focus on stable income generation and downside risk management.
The recent rollout of OFLEX builds on TROW’s 2021 acquisition of Oak Hill Advisors, which accelerated its expansion into alternative investment markets and established OHA as its private markets platform.
Earlier, in 2024, the firms launched their first joint offering, the T. Rowe Price OHA Select Private Credit Fund, a private credit solution for income-oriented investors with a non-traded, perpetual-life business development company structure.
The addition of OFLEX further strengthens this strategy by introducing a flexible, multi-strategy credit solution spanning both liquid and private markets. With rising demand for income-generating and risk-managed investments, the fund is expected to attract fee-based assets, support higher advisory fees and contribute to TROW’s long-term revenue growth.
TROW also continues to strengthen its alternative investment platform through partnerships and product innovation. In December 2025, it launched co-branded model portfolios for wealth clients with Goldman Sachs GS, combining traditional and alternative investments. The launch builds on their September 2025 partnership, under which GS committed to co-develop and distribute alternative investment products for high-net-worth and retirement investors.
