Brookfield completed its acquisition of Oaktree. The transaction marks the next step in a partnership that began in 2019 and fully brings together the Oaktree and Brookfield platforms.
With the addition of Oaktree, Brookfield’s global credit platform offers a broad range of solutions across opportunistic credit, real asset credit, asset-backed finance and corporate performing credit to institutions, financial advisors and individuals.
“Brookfield has been a leading alternative asset investor for decades and over the past 20 years has built a credit business to complement its global real asset platforms,” Connor Teskey, CEO of Brookfield Asset Management, said. “Adding the Oaktree franchise has further strengthened our ability to invest across market cycles and opportunity sets, enhanced by Oaktree’s track record and underwriting capabilities. We look forward to building on their strong track record and deep expertise as we continue to grow our credit business globally.”
Bob O’Leary and Armen Panossian, co-CEOs of Brookfield’s Credit Group, added, “Brookfield and Oaktree’s partnership over the past seven years has been built on a shared commitment to disciplined investing and a long-term perspective. This next step allows us to build on that foundation and continue delivering strong outcomes for our clients.”
Howard Marks will be co-chair of Oaktree, in addition to his role as a director of Brookfield and chair of Brookfield’s investment solutions group. Bruce Karsh will also be co-chair of Oaktree in addition to being Oaktree’s chief investment officer and portfolio manager for Oaktree’s global opportunities and global credit strategies.
