Oaktree Capital closes latest distressed debt fund at $15.9bn

Nov 19, 2021 | News

Oaktree Capital Management announced the closing of its Oaktree Opportunities Fund XI at $15.9bn, according to a news release Tuesday.

The largest fund in the firm’s history exceeded its original fundraising target of $15 billion.

Oaktree Opportunities Fund XI is the largest-yet-recorded distressed debt fund in history and offers an “all-weather” and flexible investment strategy that allows the firm’s opportunities group to consider the most attractive global public and private investments, the news release said.

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To date, the fund has invested or committed to invest about 70% of its capital, the news release said.

“Investing through many cycles requires the flexibility to transact in a variety of situations,” said Robert O’Leary, co-portfolio manager and head of North America for Oaktree’s global opportunities strategy, in the news release. “Our strong deployment activity over the last 16 months demonstrates Oaktree’s ability to quickly execute and provide solutions across the capital structure in a diverse and swiftly evolving opportunity set.”

The previous funds in the series, Oaktree Opportunities Fund XB and Oaktree Opportunities Fund X, had closed at $8.9 billion and $3.6 billion, respectively, past earnings reports disclosed.

Source: Pensions & investments

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