Fair Oaks Capital

What Fair Oaks Capital does

Fair Oaks Capital is an independent, FCA-regulated asset management and advisory firm headquartered in London, specialising in structured credit and collateralised loan obligations (CLOs). The firm manages over $14bn in broadly syndicated loans globally and has completed 60 CLO transactions, with more than $9bn in European financing commitments closed since 2020. Its product shelf comprises the Fair Oaks AAA CLO Fund UCITS ETF (a UCITS-compliant exchange-traded fund investing in AAA-rated CLOs with quarterly EUR distributions), the Fair Oaks Dynamic Credit Fund and Fair Oaks High Grade Credit Fund (Luxembourg-domiciled UCITS sub-funds), and Fair Oaks Income Limited (a Guernsey-incorporated closed-ended investment fund admitted to the London Stock Exchange's Specialist Fund Segment). US operations are conducted through Fair Oaks Capital US LP, a Delaware limited partnership based in New York, and distribution into Switzerland is facilitated by RBC Investor Services Bank S.A. as Swiss representative and paying agent.

The firm generates revenue primarily through recurring management fees applied across its UCITS, ETF, and closed-ended vehicles, with an embedded policy to reinvest 25% of quarterly management fees into fund shares when they trade at a discount to NAV. Its go-to-market is institutional: it targets qualified investors, professional clients, and regulated qualified investors across Europe and the US via direct sales relationships, the LSE listing, Swiss distribution, and UCITS ETF platforms. Customer segmentation is institutional rather than retail, with three defined cohorts: Institutional Investors, Professional Clients under MiFID, and Swiss Qualified Investors under the Swiss Collective Investment Schemes Act.

The underlying technology stack is not publicly disclosed, and the business model is platform-based rather than software-based — that is, it is a credit-focused investment platform built on regulatory authorisation, CLO structuring expertise, and multi-jurisdictional distribution rather than proprietary technology. In 2018, Kudu Investment Management took a minority stake in the firm, providing institutional capital to a private credit manager that operates independently with no identified parent company.

Name

Fair Oaks Capital

Legal name

Fair Oaks Capital Limited

Website

https://fairoakscap.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Fair Oaks Capital is an FCA-regulated, London-based independent asset manager specialising in structured credit and CLOs, managing $14bn+ across UCITS funds, a UCITS ETF, and a London-listed closed-ended fund for institutional investors in Europe and the US.

Ownership category

akta.pro rank

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Management Fees: The firm generates revenue through management fees charged on investment funds. The company policy provides for 25% reinvestment of quarterly management fees when shares trade at a discount to NAV.
2. Dividend Distributions: Fair Oaks Capital distributes dividends to investors through its UCITS ETF products, such as the Fair Oaks AAA CLO Fund UCITS ETF paying quarterly dividends in EUR.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Fair Oaks Capital is an independent asset management and advisory firm providing investment management services across structured credit products, including CLOs and broadly syndicated loans. It offers and manages institutional investment vehicles — the Fair Oaks AAA CLO Fund UCITS ETF, the Fair Oaks Dynamic Credit Fund, the Fair Oaks High Grade Credit Fund, and the LSE-listed Fair Oaks Income Limited — distributing them to institutional, professional, and qualified investors under FCA regulation.

Product overview

Fair Oaks Capital operates as a private credit manager offering a portfolio of investment products. The product suite includes the Fair Oaks AAA CLO Fund UCITS ETF (a UCITS-compliant exchange-traded fund investing in AAA-rated CLOs with quarterly dividend distributions), the Fair Oaks Dynamic Credit Fund and Fair Oaks High Grade Credit Fund (both Luxembourg-domiciled UCITS sub-funds focused on dynamic and high-grade credit strategies), and Fair Oaks Income Limited (a Guernsey-incorporated closed-ended investment fund admitted to the London Stock Exchange's Specialist Fund Segment). The company also manages its US operations through Fair Oaks Capital US LP. The product architecture represents a platform of credit-focused investment vehicles rather than a unified software product.

Differentiator

Problem solved

Functional benefit

Brands

• Fair Oaks Dynamic Credit Fund: Luxembourg domiciled UCITS sub-fund focused on dynamic credit strategies.
• Fair Oaks High Grade Credit Fund
• Fair Oaks AAA CLO Fund UCITS ETF
• Fair Oaks Income Fund

Products and services

• Fair Oaks AAA CLO Fund UCITS ETF A UCITS-compliant exchange-traded fund that invests in AAA-rated collateralized loan obligations (CLOs) and distributes quarterly dividends in EUR to investors.
• Fair Oaks Dynamic Credit Fund A Luxembourg-domiciled UCITS sub-fund focused on dynamic credit strategies, distributed to qualified investors including in Switzerland via RBC Investor Services Bank S.A. as Swiss paying agent.
• Fair Oaks High Grade Credit Fund A Luxembourg-domiciled UCITS sub-fund focused on high-grade credit strategies, offered alongside the Fair Oaks Dynamic Credit Fund.
• Fair Oaks Income Limited A Guernsey-incorporated closed-ended investment fund admitted to the London Stock Exchange's Specialist Fund Segment, focused on credit investments, trading Ordinary and Realisation shares.

Quantifiable outcome

• 60 CLO transactions completed globally
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Ares Management: One of the largest publicly listed credit and alternatives managers, with a deep CLO franchise across US and European markets and a multi-strategy credit platform that dwarfs Fair Oaks' scale. Directly comparable on CLO issuance volume and broadly syndicated loan AUM.
• Carlyle Global Credit: Credit arm of a global alternatives giant managing leveraged loan, CLO, and direct lending strategies at much greater scale. Competes in the same broadly syndicated loan/CLO space but as part of a much broader credit and alternatives platform.
• Apollo Global Management: Mega-cap alternatives manager with a sizable structured credit and CLO franchise within a much broader private credit and yield platform. Overlaps in CLO structuring and broadly syndicated loan investing at meaningfully larger scale.

Direct peers

• Muzinich & Co. Independent, founder-controlled alternative credit manager with deep European and US CLO/private credit franchises and similar mid-market scale. Directly comparable on strategy mix (corporate CLOs, broadly syndicated loans), distribution model (institutional UCITS and closed-end vehicles), and European footprint.
• Alcentra: Specialist credit and CLO manager affiliated with BNY Mellon, focused on US and European CLO/leveraged loan strategies. Comparable in strategy, client base (institutional LPs), and CLO issuance experience to Fair Oaks.
• Intermediate Capital Group (ICG): European-headquartered alternative asset manager with significant corporate credit, leveraged loan, and CLO capabilities. Comparable on European institutional distribution, credit strategy breadth, and listed-fund vehicles.
• BlueMountain Capital Management: Specialist structured credit and CLO manager with a long track record of CLO issuance and structured solutions for institutional clients. Competes head-to-head with Fair Oaks in broadly syndicated CLO management and structured credit product design.
• Octagon Credit Investors: Pure-play CLO and leveraged loan credit manager with multi-billion-dollar AUM and a comparable focus on broadly syndicated loans and CLO equity/structuring. Operates as a specialist competitor in the same institutional CLO market segment.
• PineBridge Investments: Global multi-asset manager with a sizable structured credit and leveraged loan franchise serving institutional clients. Overlaps with Fair Oaks in CLO/structured credit product offerings and European/Ucits distribution.

Others

• Apollo Credit / MidCap Financial (peer placeholder via Apollo platform): Listed for breadth: MidCap Financial and Apollo Credit operate directly comparable middle-market and broadly syndicated leveraged finance franchises. Comparable on leveraged loan/CLO adjacency, though focused on different deal sizes than Fair Oaks.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fair Oaks Capital