March 14, 2019
Brookfield Asset Management Inc. is acquiring roughly 62% of Los Angeles-based Oaktree Capital Group, LLC in a deal that would be valued at $4.7 billion. The companies plan to continue operating their respective businesses independently, partnering to leverage their strengths – with each remaining under its current brand and led by its existing management and investment teams.
The combined companies will have roughly $475 billion of assets under management and $2.5 billion of annual fee-related revenues. That would make it one of the leading alternative asset managers, with one of the most comprehensive suites of alternative investment products for investors worldwide.
Brookfield’s Bruce Flatt says, “This transaction enables us to broaden our product offering to include one of the finest credit platforms in the world, which has a value-driven, contrarian investment style, consistent with ours.”
The Oaktree Board of Directors has unanimously recommended that Oaktree unitholders approve the transaction. The transaction is expected to close in Q3 2019.
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