| US investment powerhouse, Oaktree Capital, has borne the brunt of the Future Fund’s recent $1 billion cull of its private equity portfolio as the nation’s sovereign wealth fund expands its cash holdings amid heightened concerns about the health of the global economy.
In a rare insight into the $118.4bn vehicle’s investment moves, The Australian can reveal that close to 3.5 per cent of the fund was allocated to Oaktree, although this exposure spanned the LosAngeles-based firm’s various alternative asset classes, which include distressed debt and high yield bonds. At the end of last year the Future Fund trimmed back this holding, skimming close to $500m from its near $4bn investment mandate with the firm...............................................Full Article: Source
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