Daily News: September 3, 2014

Oaktree Said to Seek $10 Billion for Distressed Fund

Bloomberg reported Oaktree Capital Group is seeking $10 billion for a new fund with plans to sit on most of the capital until rising markets reverse course, three people with knowledge of the plans said.

According to Bloomberg , Oaktree plans to raise $3 billion that it can start investing immediately and $7 billion for a reserve pool to deploy when more distressed opportunities arise, sources told Bloomberg .

To read the Bloomberg article, click here.