Daily News: April 13, 2015

Oaktree Said to Raise $7B for Distressed Debt Fund

Bloomberg reported Oaktree Capital Group gathered $7 billion for a distressed debt fund as it prepares for the economic recovery to falter, according to two people with knowledge of the matter.

The Bloomberg sources said further Oaktree is targeting at least $10 billion for the pool, and the fund will be split into two parts: a $3 billion portion called Opportunities X that can be deployed initially and a $7 billion reserve called Opportunities Xb, co-founder Howard Marks said in February.

To read the entire Bloomberg article, click here.