December 9, 2016 — Hughes Hubbard served as legal advisor to Wafra Capital in its acquisition of Oxford Finance, a specialty finance firm that provides senior debt to life sciences and healthcare services companies.
Terms of the deal, announced on Nov. 17, 2016, were not disclosed. The combined capital provided by Wafra through the acquisition, the retirement of Oxford's secured notes due 2018 and expected growth capital exceeds $1 billion, according to Oxford. Oxford said it will use this combined capital to support its origination and portfolio growth.
"We are thrilled to partner with Oxford's management team in continuing to build the Oxford franchise," said Michael Gontar, chief investment officer of Wafra. "Oxford possesses tremendous potential that, combined with the growth capital we are able to provide to the platform, makes this transaction a compelling opportunity for our stakeholders and clients."
Alexandria, Va.-based Oxford has originated more than $4 billion in loans, with credit facilities ranging from $5 million to $100 million.
Wafra Capital, an affiliate of Wafra Investment Advisory Group, is an experienced leader in structuring and managing Shariah-compliant leasing and real estate products around the world. The New York firm manages more than $4.4 billion in commitments and assets under management.
The deal drew coverage in The Wall Street Journal and other news outlets.
Chuck Samuelson and Andy Braiterman led the team, which included Jerry Harrison, Bill Kolasky, Michael Salzman, Matt Syrkin, Gerold Niggemann, Asaf Nahum, Jim Delaney, Erin DeCecchis, Carol Remy, Erik Chamberlin, Justin Cohen, John Dunn, Genevieve Perez and Ariel Woldar. Steve Greene advised on financing with assistance from M. Shams Billah and Brandon Gershowitz.