Oak Hill Advisors, the private‑markets platform of T. Rowe Price Group, announced on January 9 2026 that it will serve as the administrative agent and lead left arranger for a private unitranche facility that underwrites Majesco’s purchase of Vitech Systems Group and a concurrent refinancing of existing obligations.
The unitranche structure, which Oak Hill will hold as the largest tranche, provides the debt needed for Majesco— a portfolio company of Thoma Bravo—to acquire Vitech, a cloud‑native pension and benefits administration software provider. Oak Hill’s role as both agent and major holder underscores its deep relationship with Thoma Bravo and its growing presence in the insurance‑technology financing space. The financing terms, including the total amount and interest rate, were not disclosed in the announcement.
Majesco’s acquisition of Vitech expands its product portfolio beyond property‑and‑casualty and life‑insurance software into the pension and retirement market, creating a more comprehensive platform for insurers. The combination is expected to deliver cross‑sell opportunities, operational efficiencies, and accelerated AI‑driven product development, as highlighted by Majesco CEO Adam Elster and Vitech CEO James Ousley in their statements.
For T. Rowe Price, the transaction deepens Oak Hill’s alternative‑credit exposure and demonstrates the success of the firm’s strategy to capture fee‑bearing assets in private markets. Oak Hill’s $108 billion of capital under management, reported as of September 30 2025, positions it to lead large, complex financings and reinforce its status as a key partner for software and insurance companies.
Management comments reinforce the strategic fit: Thoma Bravo partner A.J. Rohde praised the expansion into the pension and retirement market; Oak Hill senior partner Alan Schrager noted confidence in the combined business’s ability to innovate and scale; and Majesco’s Adam Elster emphasized the synergy of combining Group & Benefits and Retirement & Pension solutions to accelerate customer growth.
T. Rowe Price’s stock has underperformed the S&P 500 and the Financial Select Sector SPDR Fund over the past year, and analysts maintain a moderate sell consensus. The financing announcement is viewed as a positive development for Oak Hill’s alternative‑credit strategy, but it does not directly influence T. Rowe Price’s equity performance or valuation metrics.
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