Daily News: July 31, 2014

Oaktree Mezzanine Head Exits in Dispute

Bloomberg reported that Bill Sacher, the head of Oaktree Capital Group’s mezzanine business, has left the world’s biggest distressed-debt firm because of disagreements over the future of its lending strategies.

Bloomberg said, according to a letter sent to clients from the chairman and president of Oaktree, Sacher, who ran the LA-based firm’s mezzanine funds for 13 years, departed as Oaktree gathers capital for the strategy’s fourth pool.

Bloomberg notes, according to the letter, that Sacher will be replaced by managing directors Raj Makam and Bill Casperson.

To read the entire Bloomberg report, click here.