Such lofty prices can also lead to excessive risk taking, said Andre Hakkak, chief executive officer of White Oak Global Advisors LLC, which makes private loans to below-investment-grade companies. Signs of weakness emerged in the SPAC market recently as the pace of new deals slowed and share prices fell over concerns the market was overheating. “There’s an oversaturation of SPACs right now,” Mr. Hakkak said. “It reminds you of when people bought multiple homes with no money down before the mortgage crisis.”
Andre Hakkak, Co-Founder and CEO of White Oak Global Advisors shares his insights into the private credit market and the growing role institutional investors are playing in this market. Hakkak also provides his insights into institutional investors’ expectations beyond yield as well ask his thoughts on the high level of capital raised in special situations, distressed and opportunistic credits over the past year.
"Despite the turbulent past year and economic uncertainty, White Oak has delivered an exceptional year of growth, specifically through our specialized expertise in developing tailored lending solutions to small- and mid-sized enterprises. There is still a growing need for such flexible capital," said Andre Hakkak, CEO and Co-Founder of White Oak Global Advisors.
Andre Hakkak, Chief Executive Officer & Managing Partner at White Oak Global Advisors LLC, says “White Oak has been busy. We are a facilitator of money transferred from the government into the real economy. Our UK affiliate has given out roughly £250m to around 800 businesses and is the sixth or seventh largest CBILS lender. We’re proud to do out part in getting taxpayer money into the real economy.“
White Oak Global Advisors Chief Executive Officer Andre Hakkak said his company’s new Miami office is likely to expand to about 10 to 15 people in the next year and more than 30 within five years as financial-services providers flock to the region.