Oaktree raises $3bn for latest special situations fund
Oaktree Capital Management has raised around $3bn (£2.36bn) for its third special situations fund, which invests in struggling mid-market businesses in North America.
The raise beats the asset manager’s $2.5bn target.
Special Situations Fund III will make private equity and debt investments in companies across a wide range of industries, including consumer products, gaming, industrials, healthcare, media/entertainment, business and financial services, and food and beverage.
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“We are thrilled with the strong reception of our fundraising efforts and deeply appreciate the trust that both our returning and new investors have placed in our team and investment philosophy,” said Matthew Wilson, managing director and co-portfolio manager of the special situations group in a statement, cited by Buyouts Insider.
“This successful close is a testament to our strong track record and underscores the demand for our risk-controlled approach. With the flexibility to make both credit and equity investments, we are finding no shortage of opportunities in which our unique structuring capabilities gives us an edge and ultimately enable us to deliver strong returns to our investors.”
Oaktree’s special situations unit had $7.1bn of assets under management as of 30 September 2023.
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