Asset Manager

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OFS Credit Company

OFS Credit Company, chaired by Bilal Rashid, went public in 2018 as a closed-end fund focused on CLO equity and debt securities.

OFS Credit Company

OFS Credit Company was formed in 2018 as a non-diversified, closed-end management investment company, structured under the Investment Company Act of 1940. The firm is externally managed by OFS Capital Management, an established middle-market direct lender, creating a credit-focused umbrella where the parent's origination engine informs the CLO portfolio construction of this publicly listed vehicle. The core strategy centers on investing primarily in CLO equity and subordinated (mezzanine) debt tranches. CLO equity captures residual cash flows from diversified pools of broadly syndicated senior secured corporate loans. The management team sources these positions through longstanding relationships with CLO managers and secondary market trading desks. Targeted collateral pools tend to be U.S.-centric, floating-rate leveraged loans across diverse sectors including business services, healthcare, and technology. Specific portfolio holding disclosures fall within the firm's quarterly SEC filings. OFS Credit operates as one piece of a broader credit platform. The external manager, OFS Capital Management, also manages OFS Capital Corporation (a publicly traded BDC) and private credit funds. This architecture gives the CLO investment team an information advantage — seeing real-time borrower behavior in the middle market that informs views on the broadly syndicated loan market where CLO collateral pools are sourced. The firm maintains its headquarters in Chicago, Illinois, with the manager team historically present in that single location. The structural differentiator is access. CLO equity tranches, which often generate high cash-on-cash returns and carry complex risk profiles, are nearly impossible for individual investors to access directly. OFS Credit Company wraps this exposure in a 1940 Act fund structure with daily pricing and regular distributions, though the vehicle carries the liquidity and risk characteristics of its underlying structured credit instruments.

General information

Firm type

Asset Manager

Year founded

2018

AUM

Undisclosed

Location

Region

North America

Country

United States

City

Chicago

Corporate office

10 S. Wacker Drive, Suite 2500, Chicago, IL, United States

Principals

Bilal Rashid

Chairman and Chief Executive Officer

Jeffrey Cerny

Chief Financial Officer

Sector focus

Private CreditSecondaries & Special Situations

Frequently asked questions

Who runs investment decisions at OFS Credit Company?

Bilal Rashid serves as Chairman and CEO, overseeing the investment strategy. The firm relies on the broader investment team and origination capabilities of its external manager, OFS Capital Management, for deal sourcing and credit analysis.

How is OFS Credit Company related to OFS Capital Corporation?

Both are externally managed by OFS Capital Management and operate under the broader OFS umbrella. OFS Capital Corporation is a business development company (BDC) focused on middle-market direct lending, while OFS Credit Company is a closed-end fund that invests primarily in CLO equity and debt securities in the broadly syndicated loan market.

What does OFS Credit Company actually invest in?

The firm invests primarily in the equity and subordinated (mezzanine) debt tranches of collateralized loan obligations (CLOs). CLOs are structured vehicles that pool broadly syndicated, senior secured corporate loans and issue tranched securities. The equity tranche captures residual cash flows after all senior obligations are paid.

Is OFS Credit Company a family office or a traditional asset manager?

Neither. It is a publicly traded, externally managed closed-end fund structured under the Investment Company Act of 1940. This structure gives public market investors a way to access the illiquid and complex CLO market through a listed vehicle.

Does OFS Credit Company participate in fund commitments or only direct deals?

The firm does not invest in traditional private equity or venture capital funds. Its investment activity is concentrated on purchasing CLO structured credit tranches in both the primary issuance market and the secondary market, sourced from a network of CLO managers and trading desks.

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