Daily News: March 30, 2012

Bloomberg: Oaktree Files to Raise Up to $517.5 Million in IPO

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