T. Rowe Price OHA Select Private Credit Fund has announced a tender offer to repurchase up to 3,123,620 shares, which represents approximately 5% of its total outstanding shares. This strategic move is aimed at enhancing shareholder value and optimizing the fund's capital management.

The tender offer is set to expire on December 1, 2026, unless extended. The purchase price for the shares tendered will be based on their net asset value as of December 31, 2026, or a later date if the offer is extended. Shareholders who tender their shares will receive a non-interest bearing, non-transferable promissory note reflecting the value of their accepted shares.

Background

T. Rowe Price OHA Select Private Credit Fund is a non-diversified, closed-end management investment company organized as a Delaware statutory trust. The fund is regulated under the Investment Company Act of 1940 and is managed by OHA Private Credit Advisors LLC. The principal executive office is located at 1 Vanderbilt Avenue, 16th Floor, New York, NY 10017.

As of September 30, 2026, the fund had 62,472,407 shares outstanding. The tender offer is part of the fund's ongoing efforts to manage its capital effectively and provide liquidity to its shareholders.

What the Filing Says

The tender offer was detailed in the filing dated November 2, 2026, which states, "Subject to the conditions set forth in the Offer to Purchase, the Fund will purchase up to 3,123,620 Shares that are tendered by holders of the Fund’s Shares and not withdrawn." The filing emphasizes that the offer is designed to provide liquidity to shareholders and reflects the fund's commitment to enhancing shareholder value.

Impact

This tender offer may affect shareholders of T. Rowe Price OHA Select Private Credit Fund, particularly those looking for liquidity or considering their investment strategies. The move is also likely to attract the attention of other players in the private credit industry, as they evaluate their own capital management approaches in light of this action.

What's Next

The tender offer is scheduled to expire on December 1, 2026. Shareholders must submit their shares by this date to participate in the offer. The filing does not specify any further actions beyond the tender offer.