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{{short description|American global asset management firm}}
{{Distinguish2|[[Oak Hill Capital Partners]] or [[Oak Investment Partners]]}}
{{distinguish|text=[[Oak Hill Capital Partners]] or [[Oak Investment Partners]]}}
{{use mdy dates|date=October 2023}}
{{Infobox company
{{Infobox company
| name = Oaktree Capital Management, Inc.
| name = Oaktree Capital Management, Inc.
| logo = [[File:Logo Oaktree Capital.png]]
| logo = Oaktree Capital Management logo.svg
| image = Wells Fargo Center in downtown Los Angeles, California.jpg
| caption =
| image_caption = Headquarters at [[Wells Fargo Center (Los Angeles)|Wells Fargo Tower]]
| type = Public
| type = [[Public company|Public]]
| traded_as = {{NYSE|OAK}}
| traded_as = {{NYSE|OAK.PRA}} {{NYSE|OAK.PRB}}<ref>{{Cite web|title=UNITED STATES SECURITIES AND EXCHANGE COMMISSION- Oaktree Capital Group, LLC|url=https://ir.oaktreecapital.com/static-files/952de105-e629-4af8-93f4-9ea8280b3578|website=ir.oaktreecapital.com}}</ref>
| fate =
| owner = [[Brookfield Asset Management]]
| predecessor =
| predecessor =
| successor =
| successor =
| foundation = {{start date|1995|4}}<ref name="oaktree-story">{{cite web | url = http://www.oaktreecapital.com/about/oaktree-story.aspx | title = The Oaktree story | publisher = Oaktree Capital Management | location = [[Los Angeles]] | accessdate = 2010-05-12 }}</ref>
| founder = [[Howard Marks (investor)|Howard Marks]], [[Bruce Karsh]], Steve Kaplan, Larry Keele, Richard Masson, Sheldon Stone<ref name="oaktree-story"/>
| founders = [[Howard Marks (investor)|Howard Marks]], [[Bruce Karsh]], Larry Keele, Richard Masson, Sheldon Stone<ref>{{Cite web|title=Oaktree Takes Root: Junk Bond Pros Base New Firm on Old Ideas|url=https://www.latimes.com/archives/la-xpm-1995-07-10-fi-22322-story.html|date=July 10, 1995|website=[[Los Angeles Times]]}}</ref>
| defunct =
| defunct =
| fate =
| location_city = [[Wells Fargo Center (Los Angeles)|Wells Fargo Tower]]<br>[[Los Angeles]], [[California]]
| location_country = USA
| area_served =
| key_people = {{ubl|[[Howard Marks (investor)|Howard Marks]] (co-[[chairman]])|[[Bruce Karsh]] (co-chairman and [[Chief information officer|CIO]])|[[John B. Frank|John Frank]] (vice chairman)|Armen Panossian (co-[[Chief executive officer|CEO]])<ref name="wsj.com">{{Cite web|title=Oaktree Capital to Appoint New Leadership at Firm|url=https://www.wsj.com/articles/oaktree-capital-to-appoint-new-leadership-at-firm-d81cfbe7|date=June 27, 2023|website=[[The Wall Street Journal]]}}</ref>|Robert O'Leary (co-CEO)<ref name="wsj.com">{{Cite web|title=Oaktree Capital to Appoint New Leadership at Firm|url=https://www.wsj.com/articles/oaktree-capital-to-appoint-new-leadership-at-firm-d81cfbe7|date=June 27, 2023|website=[[The Wall Street Journal]]}}</ref>|Todd Molz (COO)<ref name="wsj.com">{{Cite web|title=Oaktree Capital to Appoint New Leadership at Firm|url=https://www.wsj.com/articles/oaktree-capital-to-appoint-new-leadership-at-firm-d81cfbe7|date=June 27, 2023|website=[[The Wall Street Journal]]}}</ref>}}
| locations = 13<ref>{{cite web | url = http://www.oaktreecapital.com/about/global-presence.aspx | title = Oaktree's global presence | publisher = Oaktree Capital Management | location = [[Los Angeles]] | accessdate = 2010-05-12 }}</ref>
| industry = [[Financial services]]
| area_served =
| products =
| key_people = [[Howard Marks (investor)|Howard Marks]] <small>([[Chairman of the board|Chairman]])</small><br/>[[Bruce Karsh]] <small>(President)</small><br/>[[John B. Frank]]<small> (Managing Principal)</small>
| services =
| industry = [[Financial services]]
| revenue =
| products =
| operating_income =
| services =
| net_income =
| revenue =
| aum = [[US$]]205 billion (as of September 30, 2024)<ref>{{cite web|url=https://www.oaktreecapital.com/about|title = Oaktree: About}}</ref>
| operating_income =
| assets =
| net_income =
| equity =
| aum = [[US$]]77.9 billion ({{as of|2012|03|31|lc=on}})<ref name="oaktree-about"/>
| num_employees =
| assets =
| divisions =
| equity =
| subsid = [[Inter Milan|Internazionale]] (99.6%)
| owner =
| footnotes =
| num_employees =
| intl =
| parent =
| caption =
| divisions =
| foundation = {{start date and age|1995|4}}
| subsid =
| location_city = [[Los Angeles]], [[California]]
| homepage = [http://www.oaktreecapital.com/ www.oaktreecapital.com]
| location_country = U.S.
| footnotes =
| locations = 26<ref>{{cite web|url=https://www.oaktreecapital.com/contact-us|title = Oaktree: Contact Us}}</ref>
| intl =
| website = {{URL|oaktreecapital.com}}
}}
}}
'''Oaktree Capital Management, Inc.''' is an American global asset management firm specializing in [[alternative investment]] strategies. As of September 30, 2024, the company managed $205 billion for its clientele.


The firm was co-founded in 1995 by a group that had formerly worked together at the [[TCW Group]] starting in the 1980s. On April 12, 2012, Oaktree Capital Group, LLC became listed on the NYSE under the ticker symbol OAK.<ref name="oaktree-about" /><ref name="deal" /> On March 13, 2019, Canada's [[Brookfield Asset Management]] announced that it had agreed to buy 62% of Oaktree Capital Management for approximately $4.7 billion.<ref name="Brookfield to Acquire" /><ref name=":0" />
'''Oaktree Capital Management''' ({{NYSE|OAK}}) is a global asset management firm specializing in [[alternative investment]] strategies. Oaktree emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in distressed debt, corporate debt (including [[high yield debt]] and [[senior loan]]s), control investing, convertible securities, real estate and listed equities. As of March 31, 2012, the company managed $77.9 billion, primarily on behalf of pension funds, foundations, endowments, and sovereign wealth funds. On April 12, 2012 Oaktree became listed on the {{NYSE|OAK}}.<ref name="oaktree-about"/><ref name="deal"/>
The firm was co-founded in 1995 by a group who had formerly worked together at the TCW Group starting in the 1980s. Oaktree quickly established a reputation in the high-yield and distressed-debt markets.<ref name="home"/> As of 2012 it has over 650 employees<ref name="weeknews"/> and offices in [[Los Angeles]], where it is headquartered, [[London]], [[New York]], [[Hong Kong]], [[Stamford, Connecticut|Stamford]] ([[Connecticut]]), [[Tokyo]], [[Luxembourg]], [[Paris]], [[Frankfurt]], [[Singapore]], [[Seoul]], [[Beijing]] and [[Amsterdam]].<ref name="oaktree-about"/>


==Firm overview==
== Firm overview ==
The firm is based in Los Angeles,<ref>Vincent, Roger (November 14, 2014) [https://www.latimes.com/business/la-fi-re-oaktree-lease-20141113-story.html "Oaktree Capital agrees to expand offices in downtown Los Angeles"] ''[[Los Angeles Times]]''</ref> and has more than 1,200 employees<ref name="weeknews" /> in offices in 23 cities worldwide (Los Angeles; [[New York City]]; [[London]]; [[Hong Kong]]; [[Stamford, Connecticut]], [[Tokyo]], [[Luxembourg]], [[Paris]], [[Frankfurt]], [[Singapore]], [[Seoul]], [[Beijing]]; [[Amsterdam]]; [[Dubai]]; [[Houston]], [[Dallas]], [[Dublin]], [[Shanghai]], [[Sydney]], [[Mumbai]], [[Madrid]], [[Stockholm]], [[Zurich]]).<ref>{{Cite web|title=Oaktree Opens Office in Helsinki, Led by Ex-PineBridge Exec Tomi Langstrom|url=https://www.pehub.com/oaktree-opens-office-in-helsinki-led-by-ex-pinebridge-exec-tomi-langstrom/|date=April 14, 2020|website=PE Hub}}</ref><ref>{{Cite web|title=Oaktree Capital- Contact Us|url=https://www.oaktreecapital.com/contact-us|website=www.oaktreecapital.com}}</ref> The company's co-chairman, [[Howard Marks (investor)|Howard Marks]], is known in the investment community for his letters to investors.<ref name="stockex" />
[[File:WellsFargocenter03.jpg|thumb|right|200px|Oaktree is headquartered in the [[Wells Fargo Center (Los Angeles)|Wells Fargo Tower]] in Los Angeles, seen here as the building on the left]]
With headquarters in [[Los Angeles]], the firm has over 650 employees<ref name="weeknews"/> and offices in 13 cities worldwide (Los Angeles, [[London]], [[New York]], [[Hong Kong]], [[Stamford, Connecticut|Stamford]] ([[Connecticut]]), [[Tokyo]], [[Luxembourg]], [[Paris]], [[Frankfurt]], [[Singapore]], [[Seoul]], [[Beijing]] and [[Amsterdam]]).<ref name="oaktree-about"/>


Since its formation in 1995, Oaktree has become the largest [[Distressed securities|distressed-debt]] investor in the world.<ref name="waiting" /><ref name="newtwo" /> As reported in ''[[The Washington Post]]'' on June 26, 2011, Oaktree's 17 distressed-debt funds (which do not use leverage) have averaged annual gains of 19% after fees for the past 22 years.<ref name="postwa" />
;Investment philosophy
Oaktree has a value-oriented investment philosophy, emphasizing risk-control, consistency and specialization, with a focus on opportunities that offer a [[margin of safety]].<ref name="oaktree-about"/> On November 12, 2011 the ''[[Financial Times]]'' said of Oaktree’s approach: “the heart of risk management Oaktree-style, with its emphasis on living to fight another day, is simple. Oaktree doesn’t use [[Leverage (finance)|leverage]] and eschews overly complicated hedging strategies.”<ref name="ft"/> The firm specializes in off-the-beaten-path and contrarian investments,<ref name="financialtimes"/> and favors companies with tangible assets.<ref name="tangible"/> The firm's motto is “if we avoid the losers, the winners will take care of themselves.”<ref name="alpha"/>


=== Investor base ===
;Investment focus
Oaktree's clientele includes 65 of the 100 largest U.S. pension plans, 40 state retirement plans in the United States, over 500 corporations and/or their pension funds, over 275 university, charitable and other endowments and foundations, and 16 sovereign wealth funds.<ref>{{Cite web|title=About Oaktree Capital|url=https://www.oaktreecapital.com/about |website=www.oaktreecapital.com}}</ref><ref>{{Cite web|url=http://services.corporate-ir.net/SEC.Enhanced/SecCapsule.aspx?c=212597&fid=15474961|title=SEC FILING {{!}} Oaktree Capital Group LLC Form 10-K|website=services.corporate-ir.net|access-date=2018-06-12}}</ref><ref name="SEC" /> According to ''[[The Wall Street Journal]]'', Oaktree has "long been considered a stable repository for pension-fund and endowment money."<ref name="cede" /><ref name=":0" />
Oaktree invests across the [[capital structure]], with an emphasis on [[senior debt]] in companies and markets where it has what it calls a “knowledge advantage.” Distressed or otherwise ailing companies, according to Oaktree, provide such opportunities. The company’s chairman, [[Howard Marks (investor)|Howard Marks]], has been described as “one of the savviest investors in the world,”<ref name="ft"/> and is known in the investment community for letters to investors called the "Oaktree memos”.<ref name="stockex"/>


The company's distressed-debt funds are often over-subscribed, and in 2010 Oaktree turned down potential investors due to self-imposed limits on fund size.<ref name="calanceact" />
Since its 1995 formation, Oaktree has become the largest distressed-debt investor in the world.<ref name="waiting"/><ref name="newtwo"/> In 2008, it raised $10.9 billion for what was the largest-ever distressed debt fund, its Opportunities Fund VIIb.<ref name="bill"/> As reported in ''[[The Washington Post]]'' on June 26, 2011, Oaktree’s 17 distressed-debt funds (which do not use leverage) have averaged annual gains of 19% after fees for the past 22 years.<ref name="postwa"/>


=== Investment funds ===
In addition to credit investments in distressed debt and high-yield bonds, Oaktree also invests in areas such as private equity, real estate and listed equities. In recent years, the company has expanded its real estate activities.<ref name="oaktree-about"/>
Oaktree's current investment activities are divided across three asset classes: credit, equity, and real estate.<ref name=":0" /><ref name="sowseeds" />


== History ==
;Investor-base
Oaktree’s investor-base primarily includes pension plans (global and U.S.), endowments and foundations, and [[sovereign wealth funds]]. 100 of the 300 largest global pension plans, 75 of the 100 largest U.S. pension plans, 39 state pension plans, 312 endowments and foundations, and 10 sovereign wealth fund nations. According to the ''[[Wall Street Journal]]'', Oaktree has “long been considered a stable repository for pension-fund and endowment money.”<ref name="cede"/>


=== 1990s ===
The company’s distressed-debt funds are often over-subscribed, and in 2010 Oaktree turned down potential investors due to self-imposed limits on fund size.<ref name="calanceact"/> By law, clients are required to be so-called [[accredited investors]], however, sub-advisory relationships with mutual funds such as [[The Vanguard Group]] and [[Russell Investment Group]] provide smaller investors access to Oaktree’s portfolio managers.
Oaktree was founded in 1995 by a group of principals who first joined at the TCW Group in the mid-1980s<ref name="leavetcw" /> Within three months of its founding in 1995, "more than 30 TCW clients transferred $1.5 billion in assets to Oaktree."<ref name="financialtimes" /><ref name="eleven" />


Oaktree has formed various sub-advisory relationships since 1995. In 1996, Oaktree was selected as the sub-advisor for the [[The Vanguard Group|Vanguard Convertible Securities Fund]].<ref name="story" />
==History==


Since 1995, Oaktree has created what it refers to as "step-out" strategies, usually coincident with the opening of new offices around the world. Its growth in strategies has largely focused on expanding into European and Asian markets. Between 1997 and 1999, Oaktree created three new strategies: Emerging Markets Absolute Return in 1997, European High Yield Bonds in 1999, and Power Opportunities in 1999.<ref name="SEC" />
===Early years (1995-1999)===
Oaktree was founded in 1995 by a group of principals who first joined together at the TCW Group in the mid-1980s<ref name="leavetcw"/> to manage high yield bonds, convertible securities, distressed debt and principal investments.<ref name="story"/> Within three months of its founding in 1995, “more than 30 TCW clients transferred $1.5 billion in assets to Oaktree.”<ref name="financialtimes"/><ref name="eleven"/> Adding to the original asset classes, Oaktree’s investment activities currently include other complementary strategies.<ref name="doemos"/> What it refers to as its “synergistic” investment strategies include specializations in power infrastructure, [[mezzanine debt]],<ref name="smarties"/> and [[senior loan]]s.<ref name="story"/> As of March 31, 2012, its assets under management were $77.9 billion.


=== 2000s ===
Oaktree has formed various sub-advisory relationships since 1995. In 1996, Oaktree was selected as the sub-advisor for the [[The Vanguard Group|Vanguard Convertible Securities Fund]].<ref name="story"/>
In 2001, Oaktree continued to introduce new "step-out" strategies, starting with Mezzanine Finance. Asia Principal Opportunities (2006) followed, along with European Principal Investments (2006), European Senior Loans (2006), U.S. Senior Loans and Value Opportunities (2007), Global High Yield Bonds (2010), Emerging Markets Equities (2011), and Real Estate Debt (2012).<ref name="story" /><ref name="sone" /><ref name="SEC" />


In 2005, the [[Securities And Exchange Commission]] ordered Oaktree to pay a fine, interest, and disgorge profits after the SEC ruled they had "sold securities short" before the five legal business days after a public offering pricing had gone public. Oaktree was required to put in place policies and procedures to prevent violations in the future.<ref name="SEC51709" />
Since 1995, Oaktree has created what it refers to as “step-out” strategies, usually coincident with the opening of new offices around the world. Its growth in strategies has largely focused on expanding into European and Asian markets. Between 1998 and 1999, Oaktree created 3 new strategies: Emerging Markets Absolute Return in 1998, European High Yield Bonds in 1999, Power Opportunities in 1999. Oaktree was one of the first U.S.-headquartered alternative asset managers with dedicated European investment teams focused on credit.<ref name="story"/>


In 2008, the firm raised $11 billion for their distressed debt fund.<ref name="bill" /><ref name="secrecy" /> In 2009, Oaktree was selected by the [[U.S. Treasury]], along with eight other managers ([[BlackRock]], Invesco, AllianceBernstein and others)<ref name="ppipa" /> to participate in the government's [[Public-Private Investment Program]] (PPIP).<ref name="badasset" /> At the time of Oaktree's inclusion in the PPIP program, ''[[The New York Times]]'' reported: "[[Howard Marks (investor)|Howard S. Marks]] is the sort of financier who Washington hopes will help fix the nation’s tumbledown banks."<ref name="tumbledown" /> As of December 31, 2018, the Oaktree PPIP Fund, L.P. had a gross return of 28%.<ref name="sone" /><ref name="thirtybill" /><ref name="SEC" /><ref name=":0" />
===Expansion (2000-2010)===


=== 2010s ===
In 2001 Oaktree continued to introduce new "step-out" strategies, starting with Mezzanine Finance. Asia Principal Opportunities (2006) and Asia Special Situations (2007) followed, along with European Principal Opportunities (2006), European Senior Loans (2006), U.S. Senior Loans and Value Opportunities (2007), and Emerging Markets Equities in 2011.<ref name="story"/><ref name="sone"/>
In 2009, Oaktree acquired a 20% stake in [[DoubleLine Capital]], a Los Angeles-based investment firm specializing in mortgage-backed fixed income portfolios.<ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2016-02-18/marks-s-oaktree-seen-nearing-1-billion-gain-with-gundlach-wager|title=Marks's Oaktree Seen Nearing $1 Billion Gain on Gundlach Bet|date=2016-02-18|agency=Bloomberg News|access-date=2018-05-23|language=en}}</ref>


The firm's relationship with Vanguard was expanded in 2011 when Oaktree was selected as one of four firms to manage Vanguard's Emerging Markets Select Stock Fund. In 2010, Oaktree was named one of three advisors to the Russell Global Opportunistic Credit Fund and was selected as a manager for the [[Credit Suisse]] (Lux) I Fund in 2011.<ref name="story" />
In 2005 the [[Securities And Exchange Commission]] ordered Oaktree to pay a fine, interest, and disgorge profits after the SEC ruled they had "sold securities short" before the five legal business days after a public offering pricing had gone public. Oaktree was required to put in place policies and procedures to prevent violations in the future.<ref name=SEC51709 />


Seeking investment opportunities created by the [[European sovereign-debt crisis]],<ref name="lowprices" /><ref name="europe" /> Oaktree started its European Principal Fund III in November 2011 with committed capital of some €3 billion.<ref name="said" />
In 2008, the firm raised 11bn for their distressed debt fund.<ref name="bill"/><ref name="secrecy"/> In 2009, Oaktree was selected by the [[U.S. Treasury]], along with eight other managers ([[BlackRock]], Invesco, AllianceBernstein and others)<ref name="ppipa"/> to participate in the government’s [[Public-Private Investment Program]] (PPIP).<ref name="badasset"/> At the time of Oaktree’s inclusion in the PPIP program, ''[[The New York Times]]'' reported: “[[Howard Marks (investor)|Howard S. Marks]] is the sort of financier who Washington hopes will help fix the nation’s tumbledown banks.”<ref name="tumbledown"/> Partnering with Oaktree in PPIP are the Inupiat Eskimos of Alaska’s North Slope, whose [[Arctic Slope Regional Corporation]] invested some $10 million alongside Oaktree’s PPIP fund. As of December 31, 2011, the Oaktree PPIP Fund, L.P. had a gross return of 17.8%.<ref name="sone"/><ref name="thirtybill"/>


On April 12, 2012, Oaktree became a publicly traded partnership with shares listed on the [[NYSE]].<ref name="deal" /> The company was previously listed on GSTrUE, a private over-the-counter exchange run by [[Goldman Sachs]]<ref name="twist" /> which officially ceased operations<ref name="doemos" /> in 2012 after Oaktree, along with Apollo Global Management (in 2011), de-listed and moved to the NYSE.<ref name="nyt" />
===Recent years (2010-present)===
;Relationship expansion
In recent years, the company has formed several strategic relationships. In 2009, Oaktree acquired a 22% stake in DoubleLine Capital, a Los Angeles-based investment firm specializing in mortgage-backed fixed income portfolios. In 2011 Oaktree partnered with Sabal Financial Group, a company focusing on the acquisition and valuation of portfolios of real estate loans.<ref name="four"/> Oaktree had been an investor in Sabal’s portfolios since 2009 prior to acquiring a non-controlling equity stake in the company.<ref name="five"/>


According to the company's 2015 published financial results, Oaktree raised $12 billion for Oaktree Opportunities Funds X and Xb ("Opps X and Xb").<ref name="SEC" />
Its relationship with Vanguard was expanded in 2011, when Oaktree was selected as one of four firms to manage Vanguard’s Emerging Markets Select Stock Fund. In 2010, Oaktree was named one of three advisors to the Russell Global Opportunistic Credit Fund and was selected as a manager for the [[Credit Suisse]] (Lux) I Fund in 2011.<ref name="story"/>


In 2017, [[Eaton Vance]] launched the Oaktree Diversified Credit NextShares exchange-traded managed fund with Oaktree as subadvisor.
;European sovereign-debt crisis
Seeking investment opportunities created by the [[European sovereign-debt crisis]],<ref name="lowprices"/><ref name="europe"/> Oaktree started its European Principal Fund III in November 2011 with committed capital of some €3 billion.<ref name="said"/>


In 2018, Oaktree filed a registration statement to launch a non-traded REIT.<ref>{{Cite web|url=https://www.bisnow.com/national/news/capital-markets/global-investment-manager-oaktree-launches-2b-non-traded-reit-85164|title=Global Investment Manager Oaktree Launches $2B Non-Traded REIT |website=www.bisnow.com|access-date=2018-05-23}}</ref>
;Other recent funds
According to the company’s published financial results, during the quarter ended March 31, 2012, Oaktree held a first closing for Oaktree Opportunities Fund IX, LP with $1.2 billion.<ref name="six"/> Like its other Opportunities funds, Fund IX will focus on “market pricing inefficiencies resulting from company reorganizations and restructurings, and the senior and secured debt of operationally sound, overleveraged companies in the United States and Western Europe.”<ref name="seven"/>


On March 13, 2019, [[Brookfield Asset Management]] announced that it had agreed to buy 62% of Oaktree Capital Management for about $4.7 billion, creating one of the world's largest alternative money managers.<ref name="Brookfield to Acquire" /><ref name=":0" /> On September 30, 2019, completion of the acquisition of a majority stake by Brookfield Asset Management was announced.<ref>{{Cite web|url=https://finance.yahoo.com/news/brookfield-asset-management-completes-acquisition-121235703.html|title=Brookfield Asset Management Completes Acquisition of 61.2% of Oaktree Capital Management}}</ref>
;NYSE listing
On April 12, 2012, Oaktree became a publicly-traded partnership with shares listed on the [[NYSE]].<ref name="deal"/> The company was previously listed on GSTrUE, a private over-the-counter exchange run by [[Goldman Sachs]]<ref name="twist"/> which officially ceased operations<ref name="doemos"/> in 2012 after Oaktree, along with Apollo Global Management (in 2011), de-listed and moved to the NYSE.<ref name="nyt"/>


==Investment funds==
=== 2020s ===
In November 2021, Oaktree closed its largest fund, Opportunities Fund XI LP, after collecting $15.9 billion.<ref>{{Cite web|last=Cumming|first=Chris|title=Oaktree Capital Closes Its Largest-Ever Fund|url=https://www.wsj.com/articles/oaktree-capital-closes-its-largest-ever-fund-11637096329|date=November 16, 2021|website=The Wall Street Journal}}</ref> In March 2022, Oaktree acquired a majority stake in 17Capital, a private credit firm based in London.<ref>{{Cite web|last=Kozlowski|first=Rob|title=Oaktree Capital gets majority stake in private credit firm 17Capital|url=https://www.pionline.com/alternatives/oaktree-capital-gets-majority-stake-private-credit-firm-17capital|date=March 9, 2022|website=Pensions & Investments}}</ref><ref>{{Cite web|last=Gara|first=Antoine|title=Oaktree-backed 17Capital raises almost $3bn for first credit fund|url=https://www.ft.com/content/db396aea-02df-43b8-8867-c004ef4b5761|date=April 20, 2022|website=Financial Times}}</ref> In February 2023, the company launched a private credit fund, Oaktree Lending Partners, which finances private equity takeovers.<ref>{{Cite web|last=Platt|first=Eric|title=Oaktree Capital moves into leveraged buyout lending with $10bn fund|url=https://www.ft.com/content/dadcc767-e07c-4c10-aa18-c99b412aa345|date=February 28, 2023|website=Financial Times}}</ref><ref>{{Cite web|last=Faille|first=Christopher|title=Oaktree launches private credit fund, targeting $10bn raise|url=https://www.privatedebtinvestor.com/oaktree-launches-private-credit-fund-targeting-10bn-raise/|date=February 28, 2023|website=Private Debt Investor}}</ref> In June 2023, Robert O'Leary and Armen Panossian were named as the incoming co-CEOs.<ref>{{Cite web|last=Gottfried|first=Miriam|title=Oaktree Capital to Appoint New Leadership at Firm|url=https://www.wsj.com/articles/oaktree-capital-to-appoint-new-leadership-at-firm-d81cfbe7/|date=June 27, 2023|website=The Wall Street Journal}}</ref> As of August 2023, Oaktree was trying to raise over $18 billion for its 12th fund, Oaktree Opportunities Fund XII, potentially becoming the largest-ever private debt fund.<ref>{{Cite web|last1=Brown|first1=Silas|last2=Benitez|first2=Laura|last3=Hidalgo|first3=Kat|title=Oaktree Targets Record Private Debt Fund of Over $18 Billion|url=https://www.bloomberg.com/news/articles/2023-08-10/oaktree-targets-over-18-billion-for-record-private-credit-fund|date=August 10, 2023|agency=Bloomberg}}</ref>
Oaktree’s current investment activities are divided across six main asset classes: [[distressed debt]],<ref name="sowseeds"/> [[corporate debt]] (including high yield debt and senior loans), [[private equity|control investing]], convertible securities, real estate and listed [[equities]]. Fund structures within each asset class vary, and are organized into closed-end, open-end, or so-called “evergreen” fund types.


In July 2024, it was announced that [[Lloyds Banking Group]] partnered with Oaktree to finance UK buyouts.<ref>{{Cite web |title=Lloyds partners with Oaktree in £1bn push to fund buyout loans |url=https://www.ft.com/content/1304fe69-f203-4894-97ff-1b22bc975587 |access-date=2024-07-18 |website=Financial Times}}</ref>
Oaktree’s fund offerings are organized into three broad categories based on liquidity and lock-up period:
*'''Closed-End Funds''': Closed-end funds are structured as limited partnerships that have a 10- or 11-year term and have a specified period during which clients can subscribe for limited partnership interests in the fund. Closed-end funds have a three-, four- or five-year investment period.
*'''Open-End Funds''': Commingled open-end funds are structured as limited partnerships that admit clients as new limited partners on an ongoing basis. Unlike close-end funds, these funds do not have an investment period. Capital may be committed to new investments at any time during the fund’s life.
*'''Evergreen Funds''': “Evergreen funds” invest in marketable securities on a long and short basis. Like open-end funds, Oaktree’s evergreen funds accept new capital on an ongoing basis. Clients in evergreen funds are generally subject to a lock-up period of between one and three years.<ref name="sone"/>


== Select past and current investments ==
The following tables list the company’s strategies and funds since inception (including [[TCW]] funds directed by Oaktree managers before they left TCW to found Oaktree in 1995):
* [[Aleris International]] – acquired 1 May 2010<ref name="aleris" />
* Almatis Group — acquired 2010<ref name="almatis" />
* [[Billabong (clothing)|Billabong]] – Australia's largest surfwear company.<ref>Fickling, David and Angus Whitley. [https://www.bloomberg.com/news/articles/2013-09-18/billabong-accepts-refinancing-offer-from-centerbridge-oaktree "Billabong Sees Revival with Oaktree-Centerbridge Debt Plan."] Bloomberg</ref>
* [[Campofrío Food Group]] – (24%) European food industry.<ref name="campof" /> Sold in 2013.<ref>{{Cite news|url=https://www.wsj.com/articles/no-headline-available-1384424508|title=Mexico's Alfa Makes $937 Million Bid for Campofrio|last=Bjork|first=Christopher|date=2013-11-14|work=The Wall Street Journal|access-date=2018-06-28|language=en-US|issn=0099-9660}}</ref>
* Conbipel – (100%) Italian fashion industry<ref name="conbipel" />
* Environmental 360 Solutions – Canadian Environmental Management company<ref>{{cite news|url=https://www.finsmes.com/2021/08/environmental-360-solutions-receives-investment-from-oaktree-capital-management.html|title=Enviropnmental 360 Solutions Receives Investment from Oaktree Capital Management|date=August 29, 2021|access-date=August 4, 2022|work=FinSmes|language=en-US}}</ref>
* [[Fitness First]] – Global health club chain. Taken over in partnership with [[Marathon Asset Management]] in 2012.<ref>{{cite web|url=https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/leisure/10853139/Fitness-First-raises-first-external-debt-since-restructuring.html|title=Fitness First raises first external debt since restructuring|date=24 May 2014|access-date=11 February 2016|first=Nathalie|last=Thomas|publisher=The Telegraph}}</ref> Parts of business subsequently sold in whole or in part in 2016–17.<ref>{{cite web|url=https://www.ausleisure.com.au/news/quadrant-expands-wellness-empire-with-aquisition-of-fitness-first-australia/|title=Quadrant expands wellness empire with acquisition of Fitness First Australia|work=Australasian Leisure Management|date=29 September 2016|access-date=19 May 2018}}</ref><ref>{{cite web|url=http://www.marketing-interactive.com/celebrity-fitness-fitness-first-asia-now-parent-company/|title=Celebrity Fitness and Fitness First Asia set to merge|last=Tay|first=Vivienne|work=Marketing|date=24 February 2017|access-date=19 May 2018}}</ref><ref>{{cite web|url=https://www.welltodoglobal.com/dw-sports-scoops-up-fitness-first-uk-for-70m/|title= DW Sports Scoops Up Fitness First UK For £70M |first=Laura|last=Hill|work=Well To Do|date=4 October 2016|access-date=19 May 2018}}</ref>
*[[Inter Milan]] – (99.6%) Italian football team.<ref>{{cite web|url=https://sport.sky.it/calcio/serie-a/2024/05/21/inter-oaktree-zhang-news-oggi|title=Inter da Zhang a Oaktree: il fondo statunitense è il nuovo proprietario dei nerazzurri|date=May 22, 2024|agency=[[Sky Sports]]}}</ref>
*[[Loews Cineplex Entertainment]] – jointly acquired by [[Onex Corporation]] from [[Sony Pictures]] and [[Universal Pictures|Universal Studios]] in 2002. U.S. division was sold in 2004 to [[The Carlyle Group]] (in turn merged with [[AMC Theatres]] in 2006); Canadian subsidiary merged with [[Cineplex Entertainment|Galaxy Entertainment]] to form Cineplex Galaxy, renamed to Cineplex Entertainment in 2005.
*[[Mail Boxes Etc.]] – potential acquisition of up to 40% ownership via a phased $132 million reserved capital increase in February 2020.<ref>{{Cite web |title=Mail Boxes Etc. partners with Oaktree |url=https://www.mbecorporate.com/news/mail-boxes-etc-partners-with-oaktree/ |access-date=2024-07-09 |publisher=MBE Worldwide |language=en-US}}</ref>
*[[Alceon Group|Marlin Brands]] 50% of Marlin Brands with [[Alceon Group]].
*[[MediaWorks New Zealand]] – acquired a controlling 77.8% share in the business, after recently purchasing shares from RBS and [[Westpac]]; acquisition completed April 29, 2015.<ref>{{cite news|title=MediaWorks Ownership Update|url=http://www.mediaworks.co.nz/MediaWorks-Ownership-Update/tabid/1578/articleID/3506/Default.aspx|date=29 April 2015|access-date=22 May 2015|publisher=MediaWorks}}</ref>
*[[Nine Entertainment]] – taken over (alongside Apollo Global Management and Goldman Sachs) from [[CVC Asia Pacific]] in a refinancing deal in Oct 2012, sold final stake in 2017.<ref>{{cite web|url=http://www.theaustralian.com.au/business/dataroom/oaktree-capital-sells-final-stake-in-nine-entertainment/news-story/6367e330ccb01cb18b4fb152eff0c60c|title=Oaktree Capital sells final stake in Nine Entertainment|date=July 13, 2017|work=[[The Australian]]|url-access=subscription}}</ref>
* [[Quiksilver]] – American retail sporting company<ref>{{Cite web|url=http://www.ocregister.com/articles/company-703761-quiksilver-tanner.html|title=Quiksilver, free from bankruptcy, talks booze and boardshorts|last=Connelly|first=Laylan|date=11 February 2016|language=en-US|access-date=2016-06-27}}</ref>
* Sky Holding – jet airplane ownership<ref name="carlyl" />
* [[Stade Malherbe Caen|Caen]], [[Ligue 2]] football club in [[France]]. Currently hold 80% of the club's shares – acquisition completed in September 2020.<ref>{{Cite web|url=https://www.smcaen.fr/2020-2021/actualites/infos-club/communique-de-oaktree-et-pierre-antoine-capton|title=Communiqué de Oaktree et Pierre-Antoine Capton|date = 7 September 2020}}</ref>
*[[Tribune Company]] – acquired jointly with [[JPMorgan Chase]] and [[Angelo Gordon]]; acquisition completed July 2012.<ref>{{cite news|last=Marek|first=Lynne|title=Tribune's bankruptcy exit could mean company breakup|url=http://www.chicagobusiness.com/article/20120721/ISSUE01/307219974/tribunes-bankruptcy-exit-could-mean-company-breakup|access-date=1 November 2012|newspaper=[[Crain's Chicago Business]]|date=23 July 2012}}</ref>
* Verreries de l'Orne à Ecouché (Orne) – [[glass etching]] firm – 1 April 2010<ref name="nouv" />
*Zzoomm, UK-based telecommunications company. Majority stake acquired for £100 million in September 2020.<ref>{{cite news|url=https://www.ft.com/content/ba2f2477-70a5-4680-b087-7395cecbd2fe |archive-url=https://ghostarchive.org/archive/h1BEz |archive-date=2022-12-11 |url-access=subscription |url-status=live|title=Oaktree invests £100m in British broadband |work=[[Financial Times]]|author=Nic Fildes|date=27 September 2020|access-date=28 September 2020}}</ref>


== See also ==
===Closed-End Funds===
<table border=1 cellpadding=2 cellspacing=0 width=70%>
<tr bgcolor=DDDDDD cellpadding=2 cellspacing=0><td width="60%" valign=top>'''Distressed Debt'''</td>
<td width="20%" valign=top>'''Inception Date'''</td>
<td width="20%" valign=top>'''Committed<br />Capital ($m)'''</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>TCW Special Credits Fund I, L.P.</td>
<td width="20%" valign=top>Oct-1988</td>
<td width="20%" valign=top>$97</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>TCW Special Credits Fund II, L.P.</td>
<td width="20%" valign=top>Jul-1990</td>
<td width="20%" valign=top>$261</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>TCW Special Credits Fund IIb, L.P.</td>
<td width="20%" valign=top>Dec-1990</td>
<td width="20%" valign=top>$153</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>TCW Special Credits Fund III, L.P.</td>
<td width="20%" valign=top>Nov-1991</td>
<td width="20%" valign=top>$329</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>TCW Special Credits Fund IIIb, L.P.</td>
<td width="20%" valign=top>Apr-1992</td>
<td width="20%" valign=top>$6447</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>TCW Special Credits Fund IV, L.P.</td>
<td width="20%" valign=top>Jun-1993</td>
<td width="20%" valign=top>$394</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Opportunities Fund, L.P.</td>
<td width="20%" valign=top>Oct-1995</td>
<td width="20%" valign=top>$771</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Opportunities Fund II, L.P.</td>
<td width="20%" valign=top>Oct-1997</td>
<td width="20%" valign=top>$1,550</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Opportunities Fund III, L.P.</td>
<td width="20%" valign=top>Sep-1999</td>
<td width="20%" valign=top>$2,077</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Opportunities Fund IV, L.P.</td>
<td width="20%" valign=top>Sep-2001</td>
<td width="20%" valign=top>$2,125</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Opportunities Fund IVb, L.P.</td>
<td width="20%" valign=top>May-2002</td>
<td width="20%" valign=top>$1,339</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Opportunities Fund V, L.P.</td>
<td width="20%" valign=top>Jun-2004</td>
<td width="20%" valign=top>$1,179</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Opportunities Fund VI, L.P.</td>
<td width="20%" valign=top>Jul-2005</td>
<td width="20%" valign=top>$1,773</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Opportunities Fund VII, L.P.</td>
<td width="20%" valign=top>Mar-2007</td>
<td width="20%" valign=top>$3,598</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Opportunities Fund VIIb, L.P.</td>
<td width="20%" valign=top>May-2008</td>
<td width="20%" valign=top>$10,940</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>Special Account A</td>
<td width="20%" valign=top>Nov-2008</td>
<td width="20%" valign=top>$253</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>Oaktree Opportunities Fund VIII, L.P.</td>
<td width="20%" valign=top>Oct-2009</td>
<td width="20%" valign=top>$4,507</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>Special Account B</td>
<td width="20%" valign=top>Nov-2009</td>
<td width="20%" valign=top>$1,031</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>Oaktree Opportunities Fund VIIIb, L.P.</td>
<td width="20%" valign=top>Aug-2011</td>
<td width="20%" valign=top>$2,692</td></tr>

<tr bgcolor=DDDDDD cellpadding=2 cellspacing=0><td width="60%" valign=top>'''Global Principal Investments'''</td>
<td width="20%" valign=top></td>
<td width="20%" valign=top></td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>TCW Special Credits Fund V, L.P.</td>
<td width="20%" valign=top>Apr-1994</td>
<td width="20%" valign=top>$401</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Principal Opportunities Fund, L.P.</td>
<td width="20%" valign=top>Jul-1996</td>
<td width="20%" valign=top>$625</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Principal Opportunities Fund II, L.P.</td>
<td width="20%" valign=top>Dec-2000</td>
<td width="20%" valign=top>$1,275</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Principal Opportunities Fund III, L.P.</td>
<td width="20%" valign=top>Nov-2003</td>
<td width="20%" valign=top>$1,400</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Principal Opportunities Fund IV, L.P.</td>
<td width="20%" valign=top>Oct-2006</td>
<td width="20%" valign=top>$3,328</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>Special Account C</td>
<td width="20%" valign=top>Dec-2008</td>
<td width="20%" valign=top>$505</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>Oaktree Principal Fund V, L.P.</td>
<td width="20%" valign=top>Feb-2009</td>
<td width="20%" valign=top>$2,827</td></tr>

<tr bgcolor=DDDDDD cellpadding=2 cellspacing=0><td width="60%" valign=top>'''Asia Principal Investments'''</td>
<td width="20%" valign=top></td>
<td width="20%" valign=top></td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Asia Principal Opportunities Fund, L.P.</td>
<td width="20%" valign=top>May-2006</td>
<td width="20%" valign=top>$578</td></tr>

<tr bgcolor=DDDDDD cellpadding=2 cellspacing=0><td width="60%" valign=top>'''European Principal Investments'''</td>
<td width="20%" valign=top></td>
<td width="20%" valign=top></td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM European Principal Opportunities Fund, L.P.</td>
<td width="20%" valign=top>Mar-2006</td>
<td width="20%" valign=top>$495</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM European Principal Opportunities Fund II, L.P.</td>
<td width="20%" valign=top>Dec-2007</td>
<td width="20%" valign=top>€ 1,759</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>Oaktree European Principal Fund III, L.P.</td>
<td width="20%" valign=top>Nov-2011</td>
<td width="20%" valign=top>€ 3,168</td></tr>

<tr bgcolor=DDDDDD cellpadding=2 cellspacing=0><td width="60%" valign=top>'''Power Opportunities'''</td>
<td width="20%" valign=top></td>
<td width="20%" valign=top></td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM/GFI Power Opportunities Fund, L.P.</td>
<td width="20%" valign=top>Nov-1999</td>
<td width="20%" valign=top>$449</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM/GFI Power Opportunities Fund II, L.P.</td>
<td width="20%" valign=top>Nov-2004</td>
<td width="20%" valign=top>$1,021</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>Oaktree Power Opportunities Fund III, L.P.</td>
<td width="20%" valign=top>Apr-2010</td>
<td width="20%" valign=top>$1,062</td></tr>

<tr bgcolor=DDDDDD cellpadding=2 cellspacing=0><td width="60%" valign=top>'''Real Estate'''</td>
<td width="20%" valign=top></td>
<td width="20%" valign=top></td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>TCW Special Credits Fund VI, L.P.</td>
<td width="20%" valign=top>Aug-1994</td>
<td width="20%" valign=top>$506</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Real Estate Opportunities Fund A, L.P.</td>
<td width="20%" valign=top>Feb-1996</td>
<td width="20%" valign=top>$379</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Real Estate Opportunities Fund B, L.P.</td>
<td width="20%" valign=top>Mar-1997</td>
<td width="20%" valign=top>$285</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Real Estate Opportunities Fund II, L.P.</td>
<td width="20%" valign=top>Dec-1998</td>
<td width="20%" valign=top>$464</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Real Estate Opportunities Fund III, L.P.</td>
<td width="20%" valign=top>Sep-2002</td>
<td width="20%" valign=top>$707</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Real Estate Opportunities Fund IV, L.P.</td>
<td width="20%" valign=top>Dec-2007</td>
<td width="20%" valign=top>$450</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>Special Account D</td>
<td width="20%" valign=top>Nov-2009</td>
<td width="20%" valign=top>$256</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>Oaktree Real Estate Opportunities Fund V, L.P.</td>
<td width="20%" valign=top>Mar-2011</td>
<td width="20%" valign=top>$1,025</td></tr>

<tr bgcolor=DDDDDD cellpadding=2 cellspacing=0><td width="60%" valign=top>'''Asia Real Estate'''</td>
<td width="20%" valign=top></td>
<td width="20%" valign=top></td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>Oaktree Asia Special Situations Fund, L.P.</td>
<td width="20%" valign=top>May-2008</td>
<td width="20%" valign=top>$2,322</td></tr>

<tr bgcolor=DDDDDD cellpadding=2 cellspacing=0><td width="60%" valign=top>'''PPIP'''</td>
<td width="20%" valign=top></td>
<td width="20%" valign=top></td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>Oaktree PPIP Fund, L.P.</td>
<td width="20%" valign=top>Dec-2009</td>
<td width="20%" valign=top>$2,322</td></tr>

<tr bgcolor=DDDDDD cellpadding=2 cellspacing=0><td width="60%" valign=top>'''Mezzanine Finance'''</td>
<td width="20%" valign=top></td>
<td width="20%" valign=top></td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Mezzanine Fund I, L.P.</td>
<td width="20%" valign=top>Oct-2001</td>
<td width="20%" valign=top>$808</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>OCM Mezzanine Fund II, L.P.</td>
<td width="20%" valign=top>Jun-2005</td>
<td width="20%" valign=top>$1,251</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>Oaktree Mezzanine Fund III, L.P.</td>
<td width="20%" valign=top>Dec-2009</td>
<td width="20%" valign=top>$1,592</td></tr>

</table>

===Open-End Funds===

<table border=1 cellpadding=2 cellspacing=0 width=70%>
<tr bgcolor=DDDDDD cellpadding=2 cellspacing=0><td width="60%" valign=top>'''Open End Fund'''</td>
<td width="20%" valign=top>'''Inception Date'''</td>
<td width="20%" valign=top>'''AUM ($m)'''</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>U.S. High Yield Bonds</td>
<td width="20%" valign=top>Jan-1986</td>
<td width="20%" valign=top>$14,265</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>U.S. Convertibles</td>
<td width="20%" valign=top>Apr-1987</td>
<td width="20%" valign=top>$4,286</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>High Income Convertibles</td>
<td width="20%" valign=top>Aug-1989</td>
<td width="20%" valign=top>$978</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>Non-U.S. Convertibles</td>
<td width="20%" valign=top>Oct-1994</td>
<td width="20%" valign=top>$2,205</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>European High Yield Bonds</td>
<td width="20%" valign=top>May-1999</td>
<td width="20%" valign=top>$1,670</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>U.S. Senior Loans</td>
<td width="20%" valign=top>Sep-2008</td>
<td width="20%" valign=top>$843</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>European Senior Loans</td>
<td width="20%" valign=top>May-2009</td>
<td width="20%" valign=top>$782</td></tr>

</table>

===Evergreen Funds===
<table border=1 cellpadding=2 cellspacing=0 width=70%>
<tr bgcolor=DDDDDD cellpadding=2 cellspacing=0><td width="60%" valign=top>'''Evergreen Fund'''</td>
<td width="20%" valign=top>'''Inception Date'''</td>
<td width="20%" valign=top>'''AUM ($m)'''</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>Emerging Markets Absolute Return</td>
<td width="20%" valign=top>Apr-1997</td>
<td width="20%" valign=top>$577</td></tr>

<tr><td bgcolor=E8EFF9 width=“60%” valign=top>Value Opportunities</td>
<td width="20%" valign=top>Sep-2007</td>
<td width="20%" valign=top>$1,561</td></tr>

</table>

==Assets==
''Current as of March 31, 2012: ([http://www.oaktreecapital.com/about/ source])''
{| class=wikitable
|+ Assets by client type
! Client type !! % !! [[US$]]<br/><small>(millions)</small>
|-
| Public Funds || align=right | 30 || align=right | 23,570
|-
| Corporate Pensions || align=right | 19 || align=right | 14,897
|-
| Corporate || align=right | 9 || align=right | 7,184
|-
| Sovereign Wealth Funds || align=right | 8 || align=right | 6,384
|-
| [[Financial endowment|Endowment]]s and Foundations || align=right | 8 || align=right | 6,137
|-
| [[Insurance company|Insurance companies]] || align=right | 8 || align=right | 6,032
|-
| Private - HNW/Family Office || align=right | 7 || align=right | 5,232
|-
| Sub-Advisory - Mutual Funds || align=right | 4 || align=right | 2,835
|-
| Fund of Funds || align=right | 3 || align=right | 2,629
|-
| Unions|| align=right | 1 || align=right | 858
|-
| Oaktree and Other || align=right | 3 || align=right | 2,092
|-
! alight=right | TOTAL || align=right | 100 || align=right | 77,850
|}

{| class="wikitable"
|+ Assets by asset class
! Type !! % !! [[US$]]<br/><small>(millions)</small>
|-
| Corporate Debt|| align=right | - || align=right | 21,769
|-
| Convertible Securities || align=right | - || align=right | 7,937
|-
| Distressed Debt || align=right | - || align=right | 25,310
|-
| Control Investing|| align=right | - || align=right | 17,002
|-
| Real Estate || align=right | - || align=right | 658
|-
! align=right | TOTAL || align=right | 100 || align=right | 77,850
|}

==Current investments==
{{Expand list|date=April 2012}}
* [[General Maritime]] - Oil tanker line utilizing foreign vessels and crews headquartered in New York
* [http://www.nordenia.com Nordenia] &mdash; product packaging manufacturer in Germany<ref name="nordenia"/>
* [[R&R Ice Cream]] &mdash; a European ice cream producer based in the UK<ref name="rr"/>
* [http://www.skyholding.aero/ Sky Holding] &mdash; jet airplane ownership<ref name="carlyl"/>
* Verreries de l’Orne à Ecouché (Orne) &mdash; [[glass etching]] firm &mdash; {{date|2010-04}}<ref name="nouv"/>
* [http://www.campofriofoodgroup.com Campofrío Food Group] &mdash; (24%) European food industry <ref name="campof"/>
* [http://www.conbipel.it/azienda/ Conbipel] &mdash; (100%) European fashion industry <ref name="campof"/>


;Aluminum manufacturing
* [[Aleris International]] &mdash; acquired {{date|2010-05}}<ref name="aleris"/>
* [http://www.almatis.com/ Almatis Group] &mdash; acquired {{date|2010}}<ref name="almatis"/>

; Media

*[[Triton Media Group]] &mdash; media group managed by Oaktree
*[[Townsquare Media]] &mdash; broadcast station and local media company owned by Oaktree &mdash; acquired {{date|2010-04}}
*[[Cumulus Media]] &mdash; An October 20, 2011, SEC filing by Oaktree shows that it has purchased 3,985,983 shares of Cumulus Media stock, giving Oaktree a position currently valued at $11,320,192 in the radio operator.
*[[Tribune Company]] &mdash; acquired jointly with [[JPMorgan Chase]] and [[Angelo, Gordon & Co.]]; acquisition completed July 2012. <ref>{{cite news|last=Marek|first=Lynne|title=Tribune's bankruptcy exit could mean company breakup|url=http://www.chicagobusiness.com/article/20120721/ISSUE01/307219974/tribunes-bankruptcy-exit-could-mean-company-breakup|accessdate=1 November 2012|newspaper=[[Crain's Chicago Business]]|date=23 July 2012}}</ref>

; Manufacturing
*[http://www.advancepierre.com AdvancePierre Foods] (a merger completed September 30, 2010 from Pierre Foods, Advance Foods, and Advance Brands) &mdash; a food manufacturing company with facilities in [[Iowa]], [[Oklahoma]], [[Ohio]], [[North Carolina]], & [[South Carolina]].

==See also==
* [[:Category:Oaktree Capital Management]]
* [[:Category:Oaktree Capital Management]]


== References ==
== References ==
{{reflist|2| refs =
{{reflist|1=2|refs=
<ref name="said">{{cite news | title = Oaktree Is Said to Raise $4 Billion Fund to Buy Distressed European Assets | first = Patricia | last = Kuo | url = https://www.bloomberg.com/news/2012-03-06/Oaktree-Capital-is-said-to-raise-4-billion-fund-to-buy-distressed-european-assets.html | newspaper = [[Bloomberg L.P.|Bloomberg]] | date = March 6, 2012 | access-date = 2012-07-12}}</ref>

<ref name="newtwo">{{cite news | title = Finance and Economics: The vultures take wing; Investing in distress | url = https://www.economist.com/finance-and-economics/2007/03/29/the-vultures-take-wing | newspaper = [[The Economist]] | date = March 31, 2007 | access-date = 2012-07-12}}</ref>
<ref name="said">{{cite news
<ref name="leavetcw">{{cite news | title = TCW's Junk-Bond Chief, Marks, Others, to Start Their Own Firm -- Departures Are Major Blow and Could be Followed by Client Defections | first = Rhona | last = Rundle | newspaper = The Wall Street Journal | date = March 16, 1995}}</ref>
| title = Oaktree Is Said to Raise $4 Billion Fund to Buy Distressed European Assets
<ref name="bill">{{cite news | title = Oaktree Capital raises 11bn for distressed debt fund | first = Martin | last = Arnold | url = https://www.ft.com/content/4b8f70fc-2379-11dd-b214-000077b07658 | newspaper = [[Financial Times]] | date = May 17, 2008 | access-date = 2012-07-12}}</ref>
| first = Patricia
<ref name="badasset">{{cite news | title = Bad Asset Purchase Program Turning a Profit; DealBook | first = Ben | last = Protess | url = https://dealbook.nytimes.com/2011/01/24/toxic-asset-purchase-program-turning-a-profit/ | newspaper = The New York Times | date = January 24, 2011 | access-date = 2012-07-12}}</ref>
| last = Kuo
<ref name="calanceact">{{cite news | title = A Balancing Act at Oaktree Capital Management | url = https://www.nytimes.com/2011/05/19/business/19views.html | first = Rob | last = Cox | newspaper = The New York Times | date = May 19, 2011 | access-date = 2012-07-12}}</ref>
| url = http://www.bloomberg.com/news/2012-03-06/oaktree-is-said-to-raise-4-billion-fund-to-buy-distressed-european-assets.html
<ref name="stockex">{{cite news | title = Oaktree Capital, an Investment Firm, Is Said to Plan Stock Exchange Listing | first = Peter | last = Lattman | newspaper = [[The New York Times]] | date = May 18, 2011}}</ref>
| newspaper = [[Bloomberg]]
<ref name="sowseeds">{{cite news | title = Oaktree Capital Management sows seeds for listing on NYSE | url = https://www.ft.com/content/96b652a8-80b9-11e0-85a4-00144feabdc0 | first = Henry | last = Sender | newspaper = Financial Times | date = May 17, 2011 | access-date = 2012-07-12}}</ref>
| publisher =
<ref name="waiting">{{cite news | title = Company in Trouble? They're Waiting | first = Riva | last = Atlas | url = https://www.nytimes.com/2001/01/21/business/company-in-trouble-theyacutere-waiting.html | newspaper = The New York Times | year = 2001 | access-date = 2018-12-24}}</ref>
| date = March 6, 2012
<ref name="SEC51709">{{cite web|title=Oaktree Capital Management Company, Exchange Act Release No. 51709 (May 19, 2005).|url=https://www.sec.gov/litigation/admin/34-51709.pdf|work=May 19, 2005|publisher=Securities and Exchange Commission|access-date=10 August 2011}}</ref>
| accessdate = 2012-07-12
<ref name="carlyl">{{cite web | url = https://blogs.wsj.com/privateequity/2010/04/23/carlyles-flightplan-betting-on-an-aviation-recovery/ | title = Carlyle's Flightplan: Betting On An Aviation Recovery | work = Private Equity Beat | date = 2010-04-23 | first = Daniel | last = Hausmann | publisher = [[Dow Jones & Company|Dow Jones]] | access-date = 2010-05-14}}</ref>
}}</ref>
<ref name="nouv">{{cite journal | url = http://www.usinenouvelle.com/article/investissement-mais-coupe-claire-aux-verreries-de-l-orne.N130319 | title = Investissement, mais coupe claire aux Verreries de l'Orne | language = fr | journal = L'Usine Nouvelle | date = 2010-04-22 | publisher = [[Antony, Hauts-de-Seine]], France |access-date=2010-05-14| last1 = Nouvelle | first1 = L'Usine }}</ref>

<ref name="campof">[[:es:Campofrío Food Group/|Campofrío Food Group]]{{Circular reference|date=August 2015}}</ref>
<ref name="newtwo">{{cite news
<ref name="conbipel">{{cite web |url=http://www.conbipel.it/azienda/ |title=Conbipel}}</ref>
| title = Finance and Economics: The vultures take wing; Investing in distress
<ref name="almatis">{{cite press release | url = http://www.prnewswire.com/news-releases/almatis-group-files-pre-packaged-chapter-11-cases-to-implement-agreed-financial-restructuring-92490354.html | title = Almatis Group Files Pre-packaged Chapter 11 Cases to Implement Agreed Financial Restructuring | date = 2010-04-30 | access-date = 2010-05-14 | publisher = Almatis Group | location = [[Frankfurt]]}}</ref>
| first =
<ref name="aleris">{{cite news | url = https://www.reuters.com/article/idUSSGE64C0KT20100513 | title = Aleris reorganization plan confirmed by court (UPDATE 1) | first = Santosh | last = Nadgir | location = Bangalore | date = 2010-05-13 | work = [[Reuters]] | access-date = 2010-05-14}}</ref>
| last =
<ref name="sone">{{cite news | title = Oaktree Capital S1 | url = https://www.sec.gov/Archives/edgar/data/1403528/000119312511167852/ds1.htm | publisher = [[United States Securities and Exchange Commission]] | date = June 17, 2011 | access-date = 2012-01-12}}</ref>
| url =
<ref name="deal">{{cite news | title = Private Goldman Exchange Officially Closes for Business | first = Peter | last = Lattman | newspaper = Business Day: [[DealBook]] | date = April 12, 2012}}</ref>
| newspaper = [[The Economist]]
<ref name="postwa">{{cite news | title = Marks puts Oaktree Capital Management on path to IPO | first = Gillian | last = Wee | url = http://www.highbeam.com/doc/1P2-29005332.html | archive-url = https://web.archive.org/web/20131011162932/http://www.highbeam.com/doc/1P2-29005332.html | url-status = dead | archive-date = October 11, 2013 | newspaper = [[The Washington Post]] | date = June 26, 2011 | access-date = 2012-07-12}}</ref>
| publisher =
<ref name="cede">{{cite news | title = Oaktree Capital to Try A New Twist For Share Sale; Use of Goldman Market Avoids Regulations, Doesn't Cede Control | first = Henry | last = Sender | url = https://www.wsj.com/articles/SB117876274496898000 | newspaper = [[The Wall Street Journal]] | date = May 10, 2007 | access-date = 2012-01-12}}</ref>
| date = March 31, 2007
<ref name="story">{{cite news | title = The Oaktree Capital Story | url = http://www.oaktreecapital.com/about/Oaktree-Capital-story.aspx | publisher = Oaktree Capital | year = 2009 | access-date = 2012-01-12}}</ref>
| accessdate = 2012-07-12
<ref name="eleven">{{cite news | title = Oaktree Capital Management Company | newspaper = International Directory of Company Histories. Reproduced in Business and Company Resource Center | publisher = Farmington Hills, Mich.:Gale Group | year = 2012}}</ref>
}}</ref>
<ref name="nyt">{{cite news | title = Private Goldman Exchange Officially Closes for Business | first = Peter | last = Lattman | url = https://dealbook.nytimes.com/2012/04/12/private-goldman-exchange-officially-closes-for-business/ | newspaper = [[The New York Times]] | date = April 12, 2012 | access-date = 2012-01-12}}</ref>

<ref name="financialtimes">{{cite news | title = MF Global reminds us we have much to learn from the crisis | first = Henry | last = Sender | url = https://www.ft.com/content/00d6770e-0c55-11e1-8ac6-00144feabdc0 | newspaper = [[Financial Times]] | date = November 12, 2011 | access-date = 2012-01-12}}</ref>
<ref name="leavetcw">{{cite news
<ref name="weeknews">{{cite news | title = Oaktree Capital Management Group, LLC; Oaktree Capital Appoints Marna Whittington to Board of Directors | newspaper = Investment Weekly News | date = July 21, 2012}}</ref>
| title = TCW's Junk-Bond Chief, Marks, Others, to Start Their Own Firm -- Departures Are Major Blow and Could be Followed by Client Defections
<ref name="ppipa">{{cite news | title = PPIP Brings Investors Narrow Opportunities, Nice Returns | first = Jonathan | last = Shieber | newspaper = [[The Private Equity Analyst]] | date = November 2011}}</ref>
| first = Rhona
<ref name="tumbledown">{{cite news | title = Washington Hopes 'Vulture' Investors Will Buy Bad Assets | first = Zachery | last = Kouwe | url = https://www.nytimes.com/2009/02/11/business/economy/11react.html?pagewanted=all | newspaper = The New York Times | date = February 10, 2009 | access-date = 2012-07-12}}</ref>
| last = Rundle
<ref name="lowprices">{{cite news | title = Oaktree Capital's Marks Says Investors Should Insist on 'Low Prices' in Europe | first = Chao | last = Deng | newspaper = LBO Wire | publisher = July 3, 2012 }}</ref>
| url =
<ref name="europe">{{cite news | title = Washington to Recommend $1B in Private Equity Commitments | first = Laura | last = Kreutzer | newspaper = LBO Wire | date = February 9, 2012}}</ref>
| newspaper = [[Wall Street Journal]]
<ref name="secrecy">{{cite news | title = Distressed debt funds maintain tight secrecy as offerings abound | first = Anousha | last = Sakoui | newspaper = Financial Times | date = October 28, 2008}}</ref>
| publisher =
<ref name="twist">{{cite news | title = Oaktree Capital to try a new twist for share sale; use of Goldman market avoids regulations, doesn't cede control | first = Henry | last = Sender | url = https://www.wsj.com/articles/SB117876274496898000 | newspaper = The Wall Street Journal | date = May 10, 2007 | access-date = 2012-07-12}}</ref>
| date = March 16, 1995
<ref name="thirtybill">{{cite news | title = Treasury unveils a trimmed down PPIP – Nine fund managers picked for $30 billion program to buy toxic securities; Pimco backs out | first = Damian | last = Paletta | newspaper = The Wall Street Journal | date = July 9, 2009}}</ref>
| accessdate = 2012-07-12
<ref name="doemos">{{cite news | title = Oaktree Capital Management files for $8bn NYSE listing | first = Henry | last = Sender | url = https://ftalphaville.ft.com/2011/06/20/598631/oaktree-files-for-8bn-nyse-listing/ | newspaper = [[Financial Times]] | date = June 18, 2011 | access-date = 2012-07-12}}</ref>
}}</ref>
<ref name="oaktree-about">{{cite web | url =http://www.oaktreecapital.com/about/ | title = About Oaktree | publisher = Oaktree Capital Management | location = Los Angeles | access-date = 2010-05-12}} Financial figures as of March 31, 2010.</ref>

<ref name=":0">{{Cite web|url=https://www.sec.gov/Archives/edgar/data/1403528/000140352819000007/a201810-kdoc.htm|title=Document|website=www.sec.gov|access-date=2019-07-16}}</ref>
<ref name="bill">{{cite news
<ref name="SEC">[https://www.sec.gov/Archives/edgar/data/1403528/000140352816000045/a201510-kdoc.htm "Oaktree Capital Group, LLC"] 10-k form.</ref>
| title = Oaktree raises 11bn for distressed debt fund
<ref name="Brookfield to Acquire">{{Cite web|url=https://www.nasdaq.com/press-release/brookfield-to-acquire-62-of-oaktree-capital-management-20190313-00526|title=Brookfield to Acquire 62% of Oaktree Capital Management|website=NASDAQ.com|language=en-us|access-date=2019-03-14}}</ref>
| first = Martin
| last = Arnold
| url =
| newspaper = [[Financial Times]]
| publisher =
| date = May 17, 2008
| accessdate = 2012-07-12
}}</ref>

<ref name="badasset">{{cite news
| title = Bad Asset Purchase Program Turning a Profit; DealBook
| first = Ben
| last = Protess
| url =
| newspaper = [[New York Times]]
| publisher =
| date = January 24, 2011
| accessdate = 2012-07-12
}}</ref>

<ref name="calanceact">{{cite news
| title = A Balancing Act at Oaktree Capital
| first = Rob
| last = Cox
| url =
| newspaper = [[New York Times]]
| publisher =
| date = May 19, 2011
| accessdate = 2012-07-12
}}</ref>

<ref name="tangible">{{cite news
| title = Oaktree Capital Management, LLC
| first =
| last =
| url =
| newspaper = International Directory of Company Histories
| publisher = Saint James Press
| year = 2005
| accessdate = 2012-07-12
}}</ref>

<ref name="stockex">{{cite news
| title = Oaktree, an Investment Firm, Is Said to Plan Stock Exchange Listing
| first = Peter
| last = Lattman
| url =
| newspaper = [[New York Times]]
| publisher =
| date = May 18, 2011
| accessdate = 2012-07-12
}}</ref>

<ref name="sowseeds">{{cite news
| title = Oaktree Capital sows seeds for listing on NYSE
| first = Henry
| last = Sender
| url =
| newspaper = Financial Times
| publisher =
| date = May 17, 2011
| accessdate = 2012-07-12
}}</ref>

<ref name="waiting">{{cite news
| title = Company in Trouble? They're Waiting
| first = Riva
| last = Atlas
| url =
| newspaper = [[New York Times]]
| publisher =
| year = 2001
| accessdate = 2012-07-12
}}</ref>

<ref name="alpha">{{cite news
| title = Why I Don't Currently Own Shares In REITs
| first = Brad
| last = Thomas
| url = http://seekingalpha.com/article/634221-why-i-don-t-currently-own-shares-in-reits
| newspaper = [[Seeking Alpha]]
| publisher =
| date = June 4, 2012
| accessdate = 2012-07-12
}}</ref>

<ref name="SEC51709">{{cite web|title=Oaktree Capital Management, LLC, Exchange Act Release No. 51709 (May 19, 2005).|url=http://www.sec.gov/litigation/admin/34-51709.pdf|work=May 19, 2005|publisher=Securities and Exchange Commission|accessdate=10 August 2011}}</ref>
<ref name="home">{{cite web | url = http://www.oaktreecapital.com/about/investment-philosophy.aspx | title = Oaktree's investment philosophy | publisher = Oaktree Capital Management | location = [[Los Angeles]] | accessdate = 2010-05-12 }}</ref>
<ref name="oaktree-about">{{cite web | url = http://www.oaktreecapital.com/about/ | title = About Oaktree | publisher = Oaktree Capital Management | location = [[Los Angeles]] | accessdate = 2010-05-12 }} Financial figures {{as of|2010|03|31|lc=on}}.</ref>

==INVESTMENT SECTION==
<ref name="nordenia">{{cite news | url = http://www.reuters.com/article/idUSTRE63P4MV20100426 | title = Bonds plug IPO, sale gap for private equity | agency = [[Reuters]] | date = 2010-04-26 | first = Erica | last = Billingham | accessdate = 2010-05-14 | quote = Other firms have been stepping in to fill a financing need to acquire jets. ... Oaktree Capital Management LP committed $500 million to Sky Holding Co., a new venture in the space. }}</ref>
<ref name="rr">{{cite web | url = http://www.darlingtonandstocktontimes.co.uk/news/northyorkshire/8166210.Kind_hearts_and_cornets/ | title = Kind hearts and cornets | date = 2010-05-14 | work = [[Darlington & Stockton Times]] | publisher = [[Gannett]] | accessdate = 2010-05-14 }}</ref>

<ref name="carlyl">{{cite web | url = http://blogs.wsj.com/privateequity/2010/04/23/carlyles-flightplan-betting-on-an-aviation-recovery/ | title = Carlyle’s Flightplan: Betting On An Aviation Recovery | work = Private Equity Beat | date = 2010-04-23 | first = Daniel | last = Hausmann | publisher = [[Dow Jones]] | accessdate = 2010-05-14 }}</ref>
<ref name="nouv">{{cite web | url = http://www.usinenouvelle.com/article/investissement-mais-coupe-claire-aux-verreries-de-l-orne.N130319 | title = Investissement, mais coupe claire aux Verreries de l’Orne | language = French | work = L'Usine Nouvelle | date = 2010-04-22 | publisher = [[Antony, Hauts-de-Seine]], France |accessdate=2010-05-14}}</ref>
<ref name="campof">{{cite web |url=http://es.wikipedia.org/wiki/Campofr%C3%ADo_Food_Group/ |title=Campofrío Food Group}}</ref>
<ref name="almatis">{{cite press release | url = http://www.prnewswire.com/news-releases/almatis-group-files-pre-packaged-chapter-11-cases-to-implement-agreed-financial-restructuring-92490354.html | title = Almatis Group Files Pre-packaged Chapter 11 Cases to Implement Agreed Financial Restructuring | date = 2010-04-30 | accessdate = 2010-05-14 | publisher = Almatis Group | location = [[Frankfurt]] }}</ref>
<ref name="aleris">{{cite news | url = http://www.reuters.com/article/idUSSGE64C0KT20100513 | title = Aleris reorganization plan confirmed by court (UPDATE 1) | first = Santosh | last = Nadgir | location = Bangalore | date = 2010-05-13 | agency = [[Reuters]] | accessdate = 2010-05-14 }}</ref>

<ref name="sone">{{cite news
| title = Oaktree S1
| url = http://sec.gov/Archives/edgar/data/1403528/000119312511167852/ds1.htm
| publisher = [[United States Securities and Exchange Commission]]
| date = June 17, 2011
| accessdate = 2012-01-12
}}</ref>
==NEW MATERIAL==

<ref name="ft">{{cite news
| title = MF Global Reminds us we have much to learn from crisis
| first = Henry
| last = Sender
| url =
| newspaper = [[Financial Times]]
| publisher =
| date = November 12, 2011
| accessdate = 2012-07-12
}}</ref>

<ref name="deal">{{cite news
| title = Private Goldman Exchange Officially Closes for Business
| first =Peter
| last = Lattman
| url =
| newspaper = [[Business Day]]: Dealbook
| publisher =
| date = April 12, 2012
| accessdate = 2012-07-12
}}</ref>

<ref name="postwa">{{cite news
| title = Marks puts Oaktree Capital on path to IPO
| first = Gillian
| last = Wee
| url = http://www.highbeam.com/doc/1P2-29005332.html
| newspaper = [[The Washington Post]]
| publisher =
| date = June 26, 2011
| accessdate = 2012-07-12
}}</ref>
<ref name="cede">{{cite news
| title = Oaktree to Try A New Twist For Share Sale; Use of Goldman Market Avoids Regulations, Doesn't Cede Control
| first = Henry
| last = Sender
| url = http://online.wsj.com/article/SB117876274496898000.html
| newspaper = [[The Wall Street Journal]]
| date = May 10, 2007
| accessdate = 2012-01-12
}}</ref>
<ref name="four">{{cite news
| title = Sabal Financial Group, L.P. Milestone Asset Resolution Company Expands with Investment from an Affiliate of Oaktree Capital Management, L.P
| first =
| last =
| url =
| newspaper = Real Estate Weekly
| publisher =
| date = July 8, 2011
| accessdate = 2012-01-12
}}</ref>

<ref name="five">{{cite news
| title = Newport Firm in Deal with Oaktree
| first = Chris
| last = Casacchia
| url =
| newspaper = [[Orange County Business Journal]]
| date = July 4, 2011
| accessdate = 2012-01-12
}}</ref>

<ref name="six">{{cite news
| title = Oaktree Capital Group, LLC Announces First Quarter 2012 Financial Results
| url = http://www.businesswire.com/news/home/20120426006318/en/Oaktree-Schedules-Quarter-2012-Earnings-Conference-Call
| newspaper = [[Business Wire]]
| publisher =
| date = May 10, 2012
| accessdate = 2012-01-12
}}</ref>
<ref name="seven">{{cite news
| title = SF Employees Considering Distressed Debt
| first = Levi
| last = Davis
| url =
| newspaper = Money Management Letter
| publisher =
| date = March 30, 2012
| accessdate = 2012-01-12
}}</ref>
<ref name="story">{{cite news
| title = The Oaktree Story
| url = http://www.oaktreecapital.com/about/oaktree-story.aspx
| newspaper =
| publisher = Oaktree
| year = 2009
| accessdate = 2012-01-12
}}</ref>

<ref name="eleven">{{cite news
| title = Oaktree Capital Management, LLC
| url =
| newspaper = International Directory of Company Histories . Reproduced in Business and Company Resource Center
| publisher = Farmington Hills, Mich.:Gale Group
| year = 2012
| accessdate = 2012-01-12
}}</ref>
<ref name="nyt">{{cite news
| title = Private Goldman Exchange Officially Closes for Business
| first = Peter
| last = Lattman
| url = http://dealbook.nytimes.com/2012/04/12/private-goldman-exchange-officially-closes-for-business/
| newspaper = [[The New York Times]]
| date = April 12, 2012
| accessdate = 2012-01-12
}}</ref>

<ref name="financialtimes">{{cite news
| title = MF Global reminds us we have much to learn from the crisis
| first = Henry
| last = Sender
| url =
| newspaper = [[Financial Times]]
| publisher =
| date = November 12, 2011
| accessdate = 2012-01-12
}}</ref>

<ref name="weeknews">{{cite news
| title = Oaktree Capital Group, LLC; Oaktree Appoints Marna Whittington to Board of Directors
| first =
| last =
| url =
| newspaper = Investment Weekly News
| publisher =
| date = July 21, 2012
| accessdate = 2012-07-12
}}</ref>

<ref name="ppipa">{{cite news
| title = PPIP Brings Investors Narrow Opportunities, Nice Returns
| first = Jonathan
| last = Shieber
| url =
| newspaper = [[The Private Equity Analyst]]
| publisher =
| date = November 2011
| accessdate = 2012-07-12
}}</ref>

<ref name="tumbledown">{{cite news
| title = Washington Hopes 'Vulture' Investors Will Buy Bad Assets
| first = Zachery
| last = Kouwe
| url = http://www.nytimes.com/2009/02/11/business/economy/11react.html?pagewanted=all
| newspaper = [[New York Times]]
| publisher =
| date = February 10, 2009
| accessdate = 2012-07-12
}}</ref>

<ref name="lowprices">{{cite news
| title = Oaktree's Marks Says Investors Should Insist on 'Low Prices' in Europe
| first = Chao
| last = Deng
| url =
| newspaper = LBO Wire
| publisher = July 3, 2012
| date =
| accessdate = 2012-07-12
}}</ref>

<ref name="europe">{{cite news
| title = Washington to Recommend $1B in Private Equity Commitments
| first = Laura
| last = Kreutzer
| url =
| newspaper = LBO Wire
| publisher =
| date = February 9, 2012
| accessdate = 2012-07-12
}}</ref>

<ref name="secrecy">{{cite news
| title = Distressed debt funds maintain tight secrecy as offereings abound
| first = Anousha
| last = Sakoui
| url =
| newspaper = Financial Times
| publisher =
| date = October 28, 2008
| accessdate = 2012-07-12
}}</ref>

<ref name="twist">{{cite news
| title = Oaktree to try a new twist for share sale; use of Goldman market avoids regulations, doesn't cede control
| first = Henry
| last = Sender
| url =
| newspaper = [[Wall Street Journal]]
| publisher =
| date = May 10, 2007
| accessdate = 2012-07-12
}}</ref>

<ref name="thirtybill">{{cite news
| title = Treasury unveils a trimmed down PPIP - Nine fund managers picked for $30 billion program to buy toxic securities; Pimco backs out
| first = Damian
| last = Paletta
| url =
| newspaper = [[Wall Street Journal]]
| publisher =
| date = July 9, 2009
| accessdate = 2012-07-12
}}</ref>

<ref name="doemos">{{cite news
| title = Oaktree Capital files for $8bn NYSE listing
| first = Henry
| last = Sender
| url =
| newspaper = [[Financial Times]]
| publisher =
| date = June 18, 2011
| accessdate = 2012-07-12
}}</ref>

<ref name="smarties">{{cite news
| title = Smarties and Debt Restructuring
| first = James
| last = Mackintosh
| url =
| newspaper = [[Financial Times]]
| publisher =
| date = December 14, 2006
| accessdate = 2012-07-12
}}</ref>

}}
}}


==Further reading==
== Further reading ==
*2011: ''The Most Important Thing: Uncommon Sense for the Thoughtful Investor'' by [[Howard Marks (investor)|Howard Marks]] ([[Columbia University Press]], ISBN 978-0231153683)
*2011: ''The Most Important Thing: Uncommon Sense for the Thoughtful Investor'' by [[Howard Marks (investor)|Howard Marks]] ([[Columbia University Press]], {{ISBN|978-0231153683}})
*2018: ''Mastering the Market Cycle: Getting the Odds on Your Side'' by Howard Marks ([[Mariner Books]], {{ISBN|978-1328479259}})
*''[[Morningstar]]'': [http://www.morningstar.com/cover/videocenter.aspx?id=557472 Interview with Oaktree Chairman Howard Marks] (2012)


==External links==
== External links ==
*{{Official website|http://www.oaktreecapital.com/ }}
*{{Official website|http://www.oaktreecapital.com/ }}
*[http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MjY5NTQ0fENoaWxkSUQ9LTF8VHlwZT0z&t=1 Financial year 2014 accounting statements]


{{Private equity and venture capital}}
{{Private equity and venture capital}}
{{Largest private equity firms}}
{{Hedge funds}}
{{Hedge funds}}

{{Authority control}}


[[Category:Oaktree Capital Management| ]]
[[Category:Oaktree Capital Management| ]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies established in 1995]]
[[Category:Financial services companies established in 1995]]
[[Category:Privately held companies based in California]]
[[Category:Hedge fund firms in California]]
[[Category:Hedge fund firms in California]]
[[Category:Private equity firms of the United States]]
[[Category:Private equity firms of the United States]]
[[Category:Companies based in Los Angeles, California]]
[[Category:2019 mergers and acquisitions]]
[[Category:Companies based in Los Angeles]]

[[Category:2012 initial public offerings]]
[[de:Oaktree Capital Management]]
[[Category:Brookfield Corporation]]

Latest revision as of 19:33, 26 November 2024

Not to be confused with Oak Hill Capital Partners or Oak Investment Partners.

Oaktree Capital Management, Inc.
Company typePublic
NYSE: OAK.PRA NYSE: OAK.PRB[1]
IndustryFinancial services
FoundedApril 1995; 29 years ago (1995-04)
FoundersHoward Marks, Bruce Karsh, Larry Keele, Richard Masson, Sheldon Stone[2]
Headquarters
Los Angeles, California
,
U.S.
Number of locations
26[3]
Key people
AUMUS$205 billion (as of September 30, 2024)[5]
OwnerBrookfield Asset Management
SubsidiariesInternazionale (99.6%)
Websiteoaktreecapital.com

Oaktree Capital Management, Inc. is an American global asset management firm specializing in alternative investment strategies. As of September 30, 2024, the company managed $205 billion for its clientele.

The firm was co-founded in 1995 by a group that had formerly worked together at the TCW Group starting in the 1980s. On April 12, 2012, Oaktree Capital Group, LLC became listed on the NYSE under the ticker symbol OAK.[6][7] On March 13, 2019, Canada's Brookfield Asset Management announced that it had agreed to buy 62% of Oaktree Capital Management for approximately $4.7 billion.[8][9]

Firm overview

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The firm is based in Los Angeles,[10] and has more than 1,200 employees[11] in offices in 23 cities worldwide (Los Angeles; New York City; London; Hong Kong; Stamford, Connecticut, Tokyo, Luxembourg, Paris, Frankfurt, Singapore, Seoul, Beijing; Amsterdam; Dubai; Houston, Dallas, Dublin, Shanghai, Sydney, Mumbai, Madrid, Stockholm, Zurich).[12][13] The company's co-chairman, Howard Marks, is known in the investment community for his letters to investors.[14]

Since its formation in 1995, Oaktree has become the largest distressed-debt investor in the world.[15][16] As reported in The Washington Post on June 26, 2011, Oaktree's 17 distressed-debt funds (which do not use leverage) have averaged annual gains of 19% after fees for the past 22 years.[17]

Investor base

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Oaktree's clientele includes 65 of the 100 largest U.S. pension plans, 40 state retirement plans in the United States, over 500 corporations and/or their pension funds, over 275 university, charitable and other endowments and foundations, and 16 sovereign wealth funds.[18][19][20] According to The Wall Street Journal, Oaktree has "long been considered a stable repository for pension-fund and endowment money."[21][9]

The company's distressed-debt funds are often over-subscribed, and in 2010 Oaktree turned down potential investors due to self-imposed limits on fund size.[22]

Investment funds

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Oaktree's current investment activities are divided across three asset classes: credit, equity, and real estate.[9][23]

History

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1990s

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Oaktree was founded in 1995 by a group of principals who first joined at the TCW Group in the mid-1980s[24] Within three months of its founding in 1995, "more than 30 TCW clients transferred $1.5 billion in assets to Oaktree."[25][26]

Oaktree has formed various sub-advisory relationships since 1995. In 1996, Oaktree was selected as the sub-advisor for the Vanguard Convertible Securities Fund.[27]

Since 1995, Oaktree has created what it refers to as "step-out" strategies, usually coincident with the opening of new offices around the world. Its growth in strategies has largely focused on expanding into European and Asian markets. Between 1997 and 1999, Oaktree created three new strategies: Emerging Markets Absolute Return in 1997, European High Yield Bonds in 1999, and Power Opportunities in 1999.[20]

2000s

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In 2001, Oaktree continued to introduce new "step-out" strategies, starting with Mezzanine Finance. Asia Principal Opportunities (2006) followed, along with European Principal Investments (2006), European Senior Loans (2006), U.S. Senior Loans and Value Opportunities (2007), Global High Yield Bonds (2010), Emerging Markets Equities (2011), and Real Estate Debt (2012).[27][28][20]

In 2005, the Securities And Exchange Commission ordered Oaktree to pay a fine, interest, and disgorge profits after the SEC ruled they had "sold securities short" before the five legal business days after a public offering pricing had gone public. Oaktree was required to put in place policies and procedures to prevent violations in the future.[29]

In 2008, the firm raised $11 billion for their distressed debt fund.[30][31] In 2009, Oaktree was selected by the U.S. Treasury, along with eight other managers (BlackRock, Invesco, AllianceBernstein and others)[32] to participate in the government's Public-Private Investment Program (PPIP).[33] At the time of Oaktree's inclusion in the PPIP program, The New York Times reported: "Howard S. Marks is the sort of financier who Washington hopes will help fix the nation’s tumbledown banks."[34] As of December 31, 2018, the Oaktree PPIP Fund, L.P. had a gross return of 28%.[28][35][20][9]

2010s

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In 2009, Oaktree acquired a 20% stake in DoubleLine Capital, a Los Angeles-based investment firm specializing in mortgage-backed fixed income portfolios.[36]

The firm's relationship with Vanguard was expanded in 2011 when Oaktree was selected as one of four firms to manage Vanguard's Emerging Markets Select Stock Fund. In 2010, Oaktree was named one of three advisors to the Russell Global Opportunistic Credit Fund and was selected as a manager for the Credit Suisse (Lux) I Fund in 2011.[27]

Seeking investment opportunities created by the European sovereign-debt crisis,[37][38] Oaktree started its European Principal Fund III in November 2011 with committed capital of some €3 billion.[39]

On April 12, 2012, Oaktree became a publicly traded partnership with shares listed on the NYSE.[7] The company was previously listed on GSTrUE, a private over-the-counter exchange run by Goldman Sachs[40] which officially ceased operations[41] in 2012 after Oaktree, along with Apollo Global Management (in 2011), de-listed and moved to the NYSE.[42]

According to the company's 2015 published financial results, Oaktree raised $12 billion for Oaktree Opportunities Funds X and Xb ("Opps X and Xb").[20]

In 2017, Eaton Vance launched the Oaktree Diversified Credit NextShares exchange-traded managed fund with Oaktree as subadvisor.

In 2018, Oaktree filed a registration statement to launch a non-traded REIT.[43]

On March 13, 2019, Brookfield Asset Management announced that it had agreed to buy 62% of Oaktree Capital Management for about $4.7 billion, creating one of the world's largest alternative money managers.[8][9] On September 30, 2019, completion of the acquisition of a majority stake by Brookfield Asset Management was announced.[44]

2020s

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In November 2021, Oaktree closed its largest fund, Opportunities Fund XI LP, after collecting $15.9 billion.[45] In March 2022, Oaktree acquired a majority stake in 17Capital, a private credit firm based in London.[46][47] In February 2023, the company launched a private credit fund, Oaktree Lending Partners, which finances private equity takeovers.[48][49] In June 2023, Robert O'Leary and Armen Panossian were named as the incoming co-CEOs.[50] As of August 2023, Oaktree was trying to raise over $18 billion for its 12th fund, Oaktree Opportunities Fund XII, potentially becoming the largest-ever private debt fund.[51]

In July 2024, it was announced that Lloyds Banking Group partnered with Oaktree to finance UK buyouts.[52]

Select past and current investments

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See also

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References

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  1. ^ "UNITED STATES SECURITIES AND EXCHANGE COMMISSION- Oaktree Capital Group, LLC". ir.oaktreecapital.com.
  2. ^ "Oaktree Takes Root: Junk Bond Pros Base New Firm on Old Ideas". Los Angeles Times. July 10, 1995.
  3. ^ "Oaktree: Contact Us".
  4. ^ a b c "Oaktree Capital to Appoint New Leadership at Firm". The Wall Street Journal. June 27, 2023.
  5. ^ "Oaktree: About".
  6. ^ "About Oaktree". Los Angeles: Oaktree Capital Management. Retrieved May 12, 2010. Financial figures as of March 31, 2010.
  7. ^ a b Lattman, Peter (April 12, 2012). "Private Goldman Exchange Officially Closes for Business". Business Day: DealBook.
  8. ^ a b "Brookfield to Acquire 62% of Oaktree Capital Management". NASDAQ.com. Retrieved March 14, 2019.
  9. ^ a b c d e "Document". www.sec.gov. Retrieved July 16, 2019.
  10. ^ Vincent, Roger (November 14, 2014) "Oaktree Capital agrees to expand offices in downtown Los Angeles" Los Angeles Times
  11. ^ "Oaktree Capital Management Group, LLC; Oaktree Capital Appoints Marna Whittington to Board of Directors". Investment Weekly News. July 21, 2012.
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  13. ^ "Oaktree Capital- Contact Us". www.oaktreecapital.com.
  14. ^ Lattman, Peter (May 18, 2011). "Oaktree Capital, an Investment Firm, Is Said to Plan Stock Exchange Listing". The New York Times.
  15. ^ Atlas, Riva (2001). "Company in Trouble? They're Waiting". The New York Times. Retrieved December 24, 2018.
  16. ^ "Finance and Economics: The vultures take wing; Investing in distress". The Economist. March 31, 2007. Retrieved July 12, 2012.
  17. ^ Wee, Gillian (June 26, 2011). "Marks puts Oaktree Capital Management on path to IPO". The Washington Post. Archived from the original on October 11, 2013. Retrieved July 12, 2012.
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  20. ^ a b c d e "Oaktree Capital Group, LLC" 10-k form.
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  22. ^ Cox, Rob (May 19, 2011). "A Balancing Act at Oaktree Capital Management". The New York Times. Retrieved July 12, 2012.
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  24. ^ Rundle, Rhona (March 16, 1995). "TCW's Junk-Bond Chief, Marks, Others, to Start Their Own Firm -- Departures Are Major Blow and Could be Followed by Client Defections". The Wall Street Journal.
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  28. ^ a b "Oaktree Capital S1". United States Securities and Exchange Commission. June 17, 2011. Retrieved January 12, 2012.
  29. ^ "Oaktree Capital Management Company, Exchange Act Release No. 51709 (May 19, 2005)" (PDF). May 19, 2005. Securities and Exchange Commission. Retrieved August 10, 2011.
  30. ^ Arnold, Martin (May 17, 2008). "Oaktree Capital raises 11bn for distressed debt fund". Financial Times. Retrieved July 12, 2012.
  31. ^ Sakoui, Anousha (October 28, 2008). "Distressed debt funds maintain tight secrecy as offerings abound". Financial Times.
  32. ^ Shieber, Jonathan (November 2011). "PPIP Brings Investors Narrow Opportunities, Nice Returns". The Private Equity Analyst.
  33. ^ Protess, Ben (January 24, 2011). "Bad Asset Purchase Program Turning a Profit; DealBook". The New York Times. Retrieved July 12, 2012.
  34. ^ Kouwe, Zachery (February 10, 2009). "Washington Hopes 'Vulture' Investors Will Buy Bad Assets". The New York Times. Retrieved July 12, 2012.
  35. ^ Paletta, Damian (July 9, 2009). "Treasury unveils a trimmed down PPIP – Nine fund managers picked for $30 billion program to buy toxic securities; Pimco backs out". The Wall Street Journal.
  36. ^ "Marks's Oaktree Seen Nearing $1 Billion Gain on Gundlach Bet". Bloomberg News. February 18, 2016. Retrieved May 23, 2018.
  37. ^ Deng, Chao. "Oaktree Capital's Marks Says Investors Should Insist on 'Low Prices' in Europe". LBO Wire. July 3, 2012.
  38. ^ Kreutzer, Laura (February 9, 2012). "Washington to Recommend $1B in Private Equity Commitments". LBO Wire.
  39. ^ Kuo, Patricia (March 6, 2012). "Oaktree Is Said to Raise $4 Billion Fund to Buy Distressed European Assets". Bloomberg. Retrieved July 12, 2012.
  40. ^ Sender, Henry (May 10, 2007). "Oaktree Capital to try a new twist for share sale; use of Goldman market avoids regulations, doesn't cede control". The Wall Street Journal. Retrieved July 12, 2012.
  41. ^ Sender, Henry (June 18, 2011). "Oaktree Capital Management files for $8bn NYSE listing". Financial Times. Retrieved July 12, 2012.
  42. ^ Lattman, Peter (April 12, 2012). "Private Goldman Exchange Officially Closes for Business". The New York Times. Retrieved January 12, 2012.
  43. ^ "Global Investment Manager Oaktree Launches $2B Non-Traded REIT". www.bisnow.com. Retrieved May 23, 2018.
  44. ^ "Brookfield Asset Management Completes Acquisition of 61.2% of Oaktree Capital Management".
  45. ^ Cumming, Chris (November 16, 2021). "Oaktree Capital Closes Its Largest-Ever Fund". The Wall Street Journal.
  46. ^ Kozlowski, Rob (March 9, 2022). "Oaktree Capital gets majority stake in private credit firm 17Capital". Pensions & Investments.
  47. ^ Gara, Antoine (April 20, 2022). "Oaktree-backed 17Capital raises almost $3bn for first credit fund". Financial Times.
  48. ^ Platt, Eric (February 28, 2023). "Oaktree Capital moves into leveraged buyout lending with $10bn fund". Financial Times.
  49. ^ Faille, Christopher (February 28, 2023). "Oaktree launches private credit fund, targeting $10bn raise". Private Debt Investor.
  50. ^ Gottfried, Miriam (June 27, 2023). "Oaktree Capital to Appoint New Leadership at Firm". The Wall Street Journal.
  51. ^ Brown, Silas; Benitez, Laura; Hidalgo, Kat (August 10, 2023). "Oaktree Targets Record Private Debt Fund of Over $18 Billion". Bloomberg.
  52. ^ "Lloyds partners with Oaktree in £1bn push to fund buyout loans". Financial Times. Retrieved July 18, 2024.
  53. ^ Nadgir, Santosh (May 13, 2010). "Aleris reorganization plan confirmed by court (UPDATE 1)". Reuters. Bangalore. Retrieved May 14, 2010.
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  58. ^ "Conbipel".
  59. ^ "Enviropnmental 360 Solutions Receives Investment from Oaktree Capital Management". FinSmes. August 29, 2021. Retrieved August 4, 2022.
  60. ^ Thomas, Nathalie (May 24, 2014). "Fitness First raises first external debt since restructuring". The Telegraph. Retrieved February 11, 2016.
  61. ^ "Quadrant expands wellness empire with acquisition of Fitness First Australia". Australasian Leisure Management. September 29, 2016. Retrieved May 19, 2018.
  62. ^ Tay, Vivienne (February 24, 2017). "Celebrity Fitness and Fitness First Asia set to merge". Marketing. Retrieved May 19, 2018.
  63. ^ Hill, Laura (October 4, 2016). "DW Sports Scoops Up Fitness First UK For £70M". Well To Do. Retrieved May 19, 2018.
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  66. ^ "MediaWorks Ownership Update". MediaWorks. April 29, 2015. Retrieved May 22, 2015.
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  68. ^ Connelly, Laylan (February 11, 2016). "Quiksilver, free from bankruptcy, talks booze and boardshorts". Retrieved June 27, 2016.
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  70. ^ "Communiqué de Oaktree et Pierre-Antoine Capton". September 7, 2020.
  71. ^ Marek, Lynne (July 23, 2012). "Tribune's bankruptcy exit could mean company breakup". Crain's Chicago Business. Retrieved November 1, 2012.
  72. ^ Nouvelle, L'Usine (April 22, 2010). "Investissement, mais coupe claire aux Verreries de l'Orne". L'Usine Nouvelle (in French). Antony, Hauts-de-Seine, France. Retrieved May 14, 2010.
  73. ^ Nic Fildes (September 27, 2020). "Oaktree invests £100m in British broadband". Financial Times. Archived from the original on December 11, 2022. Retrieved September 28, 2020.

Further reading

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