Bloomberg: Oaktree Files to Raise Up to $517.5 Million in IPO
Friday, March 30, 2012
Distressed debt investor Oaktree Capital Group plans to raise as much as $517.5 million in an initial public offering (IPO), a Bloomberg article said.
The firm wants to sell about 10.3 million shares at between $43 to $46 each, the company said in an SEC filing. Clipper Fund, an existing shareholder, and others will sell about one million shares, the article said.
The company will receive about $426 million form the IPO, and proceeds will be used to purchase interests from Oaktree’s principals, employees and investors, Bloomberg said.
Goldman Sachs and Morgan Stanley are among underwriters for the offering.