Oaktree Capital plans to raise $10bn for a new fund that will help finance large private equity takeovers, the Financial Times reported on Tuesday, citing a letter sent to the U.S. asset manager’s clients.
The new fund, known as Oaktree Lending Partners, may tap into bank loans to ultimately invest $20 bln in sponsor-backed debt, the report said.
The fund’s launch comes at a time when global banks have been reluctant to lend amid rising fears of a recession.
The credit investment manager plans to raise and invest the $10 billion within the next two years, FT reported.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Oaktree expects to offer loans of about $500 million or more to leveraged buyout groups, the newspaper said.
The company and asset management firm Brookfield, which owns a majority stake in the investment firm, will invest $2 billion in the new fund, the report added.
Oaktree Capital and Brookfield did not immediately respond to a request for comment.
Source: Reuters
Can’t stop reading? Read more
CPP Investments adds C$750m to Northleaf programme to deepen Canada focus
CPP Investments adds C$750m to Northleaf programme to deepen Canada focus CPP Investments has...
H.I.G. closes €1.6bn European lower middle-market fund above target
H.I.G. closes €1.6bn European lower middle-market fund above target H.I.G. Capital has completed...
Carlyle’s wealth platform doubles as private markets gain share of portfolios
Carlyle’s wealth platform doubles as private markets gain share of portfolios Carlyle Group’s...