Joe Somerset

Joseph Somerset is a Managing Director, Portfolio Management at Oxford Finance LLC. Oxford’s current team page lists him in portfolio management, and both the firm’s Leveraged Lending and Real Estate & ABL pages include him on those teams.

Somerset has more than 20 years of healthcare lending experience. Before joining Oxford, he spent seven years at CapitalSource, Inc., where he originated, underwrote and managed complex debt financings for healthcare companies, including acute care hospitals, skilled nursing facilities, rehabilitation hospitals, healthcare service providers and healthcare real estate owners.

Earlier in his career, Somerset held underwriting and portfolio management roles at GE Capital in its Healthcare Financial Services Group and at predecessor company Heller Financial. He received a B.S. in Business Administration from Bucknell University and an M.B.A. from Wake Forest University.

Oxford Finance is headquartered in Alexandria, Virginia. The firm provides senior secured loans to public and private life sciences, healthcare services, healthtech, business services and SaaS companies, and says it has originated more than $18 billion in loans since 2002.

• Oxford is not an angel or seed investor in its current public positioning; it is a private credit lender providing senior secured loans and related debt products.
• Leveraged lending focus: sponsored and non-sponsored lower middle-market businesses with $5MM to $50MM EBITDA, U.S. nationwide, with Oxford acting as lead arranger or club participant.
• Leveraged lending products include revolvers, senior and unitranche term loans, delayed draw term loans, second-lien / last-out / mezzanine debt and split-collateral structures.
• Transaction types include buyouts, leveraged recapitalizations, growth/acquisition financings and refinancings.
• Real Estate & ABL focus: healthcare-only property types, single assets or portfolios, operator-owned or investor-owned, located in the United States.
• Real Estate & ABL products include working-capital revolvers, senior term loans, Term Loan B and second lien, mezzanine loans, equity and structured equity.
• Oxford states that its capital supports companies “from transaction close through platform growth and exit” and says its real estate team tailors solutions for healthcare services companies.
• Fit appears strongest where the borrower is an established healthcare or lower middle-market platform with asset value, sponsor backing or clear debt capacity, rather than a pre-revenue seed-stage company.