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Alternative Market Briefing

US distressed-investor Oaktree Capital closes its largest-ever fund at a record $16bn

Wednesday, November 17, 2021

Laxman Pai, Opalesque Asia:

The distressed-debt manager Oaktree Capital Management has closed its largest fund to date, gathering $15.9 billion to invest in troubled industries and credit-constrained companies.

Oaktree Opportunities Fund XI LP and related vehicles exceeded the original fundraising target of $15 billion, a press release from the global investment manager specializing in alternative investments.

The new fund will make both public and private investments across geographies and sectors, including direct loans, investing in out-of-favor industries, and pursuing market dislocations, according to the Los Angeles-based private equity firm with $158 billion in assets under management.

To date, the Fund has invested or committed to invest approximately 70% of its capital in an attractive mix of opportunities that are diversified across geographies, sectors, and asset classes, it said.

"Oaktree has a long track record of navigating and investing through economic cycles. This latest oversubscribed fund is further validation of our investors' confidence in our team," said Bruce Karsh, co-chairman and chief investment officer of Oaktree and portfolio manager of the Global Opportunities strategy. "We're grateful to our investors who believe in the value and potential of this investment strategy at Oaktree."

Investors include the $181 billion Washington State Investment Board, Olympia; the $129.2 billion Minnesota State Board of Investment, St. Paul; th......................

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