Oaktree Capital Management

What Oaktree Capital Management does

Oaktree Capital Management, L.P. is a global alternative investment manager founded in 1995 and headquartered in Los Angeles, California, with $223 billion in assets under management across Credit, Equity, and Real Estate strategies. The firm is majority-owned by Brookfield Asset Management, which is in the process of completing its full acquisition of Oaktree for approximately $3 billion, with closing expected in Q2 2026; the former public holding entity has been renamed Brookfield Oaktree Holdings, LLC. Oaktree serves institutional and accredited investors (pensions, sovereign wealth funds, endowments, insurance companies, family offices) through regulated affiliates in 13+ jurisdictions (FCA in the UK, CSSF in Luxembourg, JFSA in Japan, FINRA in the US), with a growing retail/wealth channel via the Oaktree Strategic Credit Fund (~$7B interval fund), Oaktree Specialty Lending Corp. (publicly listed $2.8B BDC), and additional listed and SICAV vehicles.

The firm's product platform spans senior secured direct lending, high yield, distressed debt, convertible securities, special situations, private equity, listed equities, and real estate debt and equity. Notable technology and platform features include the European Direct Lending (EDL) strategy with Pantheon (scalable to €1 billion), the asset-backed securitization OAKEF 2026-1 ($355.8M) serviced with North Mill Equipment Finance, and an insurance balance sheet strategy that has acquired or supported Atlantic Coast Life, Sentinel Security Life, and previously partnered with Allianz. Oaktree uses AI tools (notably Claude from Anthropic) internally for memo authorship and market analysis but does not offer proprietary AI products. The firm is operationally led by Co-CEOs Armen Panossian and Bob O'Leary, with co-founder Howard Marks serving as Co-Chairman; day-to-day investment management spans offices in Los Angeles, New York, London, Luxembourg, Tokyo, Hong Kong, Shanghai, Singapore, Seoul, Sydney, India, Dubai, and Zurich.

Oaktree generates revenue primarily through management fees on fee-bearing capital plus performance fees and incentive allocations across Credit, Equity, and Real Estate strategies. Distribution is conducted via direct institutional field sales, intermediated relationships (Morgan Stanley, Goldman Sachs, JPMorgan, BofA, Citigroup, UBS, Stifel, Truist, Deutsche Bank), and public investor vehicles (OSLC, Strategic Credit Fund, ODIDX, OEQIX, Oaktree Acquisition Corp., Oaktree REIT, Oaktree SICAV). Thought leadership is a central go-to-market asset, anchored by Howard Marks' translated memo series, The Insight: Conversations podcast, Oaktree Credit Quarterly, and an annual client conference. Customer concentration risk is moderate: institutional LPs are diversified, but the Strategic Credit Fund experienced ~$1.3B Q1 2026 outflows, the OSLC BDC has 26% AI exposure, and portfolio company ITG derives ~60% of revenue from two customers (Comcast and Charter).

Name

Oaktree Capital Management

Legal name

Oaktree Capital Management, L.P.

Website

https://oaktreecapital.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Oaktree Capital Management is a Los Angeles-based global alternative investment manager founded in 1995, managing $223B across Credit, Equity, and Real Estate strategies. It serves institutional and accredited investors in 13+ jurisdictions and is majority-owned by Brookfield Asset Management.

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), All Other Financial Investment Activities (52399), Other Financial Vehicles (52599)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211), Miscellaneous Business Credit Institution (6159), Investors, Nec (6799)

akta.pro primary industry

Capital Raising Advisory (Equity & Equity-Linked) (FSAEAGAC)

akta.pro secondary industries

Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE), Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

Keywords

• Alternative asset management
• Private credit investing
• Distressed debt management
• Private equity strategies
• Real estate investment

Headquarters

HQ city

Los Angeles

HQ country

United States

HQ region

North America

Offices13 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Alternative Asset Management Fees: Oaktree is a $223 billion AUM manager (per March 2026 reporting on Atlantic Coast Life deal), majority-owned by Brookfield Asset Management. Revenue is generated through management fees on fee-bearing capital ($614B at Brookfield level including Oaktree) plus performance fees and incentive allocations on Credit, Equity (private equity, special situations, listed equities), and Real Estate strategies across global offices.
2. Private Equity / Special Situations Investments: Direct control and significant minority investments in operating companies across diverse sectors (gaming, biotech, automotive, AI infrastructure, data centers, media, hospitality, energy, etc.), generating capital appreciation and dividend/interest income for fund investors.
3. Private Credit / Direct Lending: Senior secured first-lien loans, asset-backed facilities (e.g., $355.8M OAKEF 2026-1), and structured credit through BDCs (Oaktree Specialty Lending Corp., $2.8B) and interval/tender funds (Oaktree Strategic Credit Fund, ~$7B). Generates recurring interest income plus structuring/syndication fees.
4. Convertible Note and Structured Debt Origination: Origination and structuring of convertible senior notes (e.g., $350M Sharon AI 2031 notes, $700M Sharon AI 2032 convertible senior notes), senior secured term loans (e.g., $300M Establishment Labs, $150M Aquestive Therapeutics, $100M Quantum), and bridge/mezzanine financing earning origination and interest income.
5. Investment Banking / Broker-Dealer Services: Through OCM Investments, LLC (Member FINRA), a subsidiary of Oaktree Capital Management, L.P., the firm conducts securities offerings and broker-dealer activities for accredited investors only.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels9 records

Core offering

Oaktree Capital Management is a global alternative asset manager (~$223B AUM) offering Credit, Equity, and Real Estate investment strategies to institutional and accredited investors. The firm invests in liquid and illiquid credit instruments, private equity, special situations, listed equities, and real estate through commingled funds, separately managed accounts, listed BDCs, interval funds, and other vehicles. Most offerings are restricted to U.S. accredited investors (Rule 501(a)) and UK/EU professional clients/eligible counterparties.

Product overview

Oaktree Capital Management operates as an alternative investment management platform organized around three core strategies — Credit, Equity, and Real Estate — delivered through a suite of branded investment vehicles rather than a single unified software product. The Credit strategy encompasses both liquid and illiquid instruments sourced directly from borrowers and via public markets, and is the umbrella under which products like the Oaktree Strategic Credit Fund (a non-traded interval fund launched June 2022) and the publicly listed Oaktree Specialty Lending Corporation (a BDC) sit. The Equity strategy spans private equity, special situations, and listed equities, including the acquired sub-brand 17Capital (a London-based NAV finance firm majority-owned by Oaktree since 2022). The Real Estate strategy is anchored by Oaktree Real Estate Income (a non-traded REIT) and other vehicles. Distribution to public and wealth investors is supported by Brookfield Oaktree Holdings (the public parent), Brookfield Private Wealth, Oaktree Acquisition Corporation, the ODIDX diversified income fund, the OEQIX emerging markets equity fund, and the Luxembourg-domiciled Oaktree SICAV Funds. Thought-leadership content — including the "Memos from Howard Marks" series and "The Insight: Conversations" podcast — is published from the Insights section of the site, but is editorial content, not a technology product offering.

Differentiator

Problem solved

Functional benefit

Brands

• Brookfield Oaktree Holdings, LLC (BOH): The publicly-traded holding company formerly known as Oaktree Capital Group, LLC; renamed as part of Brookfield integration.
• Oaktree Specialty Lending Corporation
• Oaktree Strategic Credit Fund
• Oaktree Acquisition Corporation
• Oaktree Diversified Income Fund (ODIDX)
• Oaktree Emerging Markets Equity Fund (OEQIX)
• Oaktree Real Estate Income (Oaktree REIT)
• Oaktree SICAV Funds
• 17Capital
• GA Group (Great American Holdings)
• Pure Data Centres

Products and services

• Credit Strategy Invests in both liquid and illiquid credit instruments, sourced directly from borrowers and via public markets. Encompasses senior debt, high yield bonds, convertible securities, distressed debt, and direct lending. Offered to institutional and accredited investors through commingled funds and separately managed accounts.
• Equity Strategy Focuses on traditional private equity, special situation opportunities, and listed equities across a broad range of regions and market sectors. Offered to institutional and accredited investors.
• Real Estate Strategy Capitalizes on Oaktree's global footprint, multi-disciplinary capabilities, extensive network of industry experts, and key relationships with operating partners. Offered to institutional and accredited investors.
• Oaktree Specialty Lending Corporation (OSLC) A $2.8 billion publicly listed business development company (BDC) offering specialty lending investment exposure through senior secured loans to middle-market companies. Operated as a separately listed entity. Recent disclosure shows ~26% AI exposure and ~3% markdowns on software loans.
• Oaktree Strategic Credit Fund Non-traded perpetual private credit fund (~$7.3-7.7B AUM) launched June 2022, offering interval/tender fund exposure to strategic credit for retail and wealth investors. Subject to a 5% quarterly redemption cap and monthly dividend (recently reset from $0.18 to $0.16 per share in March 2026).
• Oaktree Acquisition Corporation Special purpose acquisition company (SPAC) sponsored by Oaktree Capital Management.
• Oaktree Diversified Income Fund Inc. (ODIDX) Closed-end interval fund providing diversified income investment exposure.
• Oaktree Emerging Markets Equity Fund (OEQIX) Mutual fund investing in emerging markets equities.
• Oaktree Real Estate Income (Oaktree REIT) Non-traded real estate investment trust offering real estate debt and equity exposure.
• Oaktree SICAV Funds Luxembourg-domiciled UCITS-eligible SICAV fund range for European distribution.
• 17Capital London-based private equity finance firm specializing in NAV finance for the private equity sector; majority-owned by Oaktree since 2022.
• European Direct Lending (EDL) Strategy with Pantheon First-lien senior secured private loans to companies domiciled in Europe and the United Kingdom, combining a seeded portfolio with committed capital from Pantheon and scalable to €1 billion in investable capital.
• Oaktree Asset-Backed Securitization Platform (OAKEF Series) Structured equipment-finance asset-backed securitization issuance platform (e.g., OAKEF 2026-1 at $355.8M with peak subscription 6.3x and 99 bps weighted average spread), serviced in partnership with North Mill Equipment Finance, with Truist Securities as lead structuring agent and Deutsche Bank as co-manager.

Quantifiable outcome

• Oaktree Strategic Credit Fund Q1 2026 redemption requests of 8.5% fully honored (vs. typical 5% quarterly cap)
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

18 partnerships are on record, tiered flagship digital infrastructure portfolio company, majority-owned advisory platform, flagship data center portfolio company, co-positioning in ai credit hedging, flagship parent / controlling owner, flagship ai infrastructure investment, strategic consumer products investment, divestiture / exit transaction, servicing partner for abs platform, new healthcare practice acquisition, insurance restructuring counterparty, microgrid infrastructure partner, strategic sports ownership, hospitality portfolio company, acquirer of legacy insurance business, logistics supply-chain portfolio company, flagship nav finance subsidiary and luxury gaming portfolio company.

• ITG, Inc.flagship digital infrastructure portfolio companyStrategic or Co-development Partner · 1 June 2026Oaktree acquired ITG in 2021 in partnership with management, expanding through 12 acquisitions to a $2.9B backlog and $2.67B target IPO valuation. ITG launched its $429.3M Nasdaq IPO on June 22, 2026 (ticker 'ITG'), with Morgan Stanley, Citigroup, UBS, and Stifel as joint book-runners; proceeds repay outstanding revolving credit facility and term loan. Comcast and Charter Communications account for ~60% of revenue.
• Great American Holdings, LLC (GA Group)majority-owned advisory platformStrategic or Co-development Partner · 1 June 2026Oaktree funds are the majority owner of GA Group, which acquired Done Right Merchandising (May 2026) and G2 Capital Advisors and launched dedicated Transaction Opinions, CFO Advisory, and Healthcare Valuation practices. B. Riley Group sold a majority stake in Great American Group businesses to Oaktree JV for ~$203M, retaining 44%.
• Pure Data Centres Groupflagship data center portfolio companyStrategic or Co-development Partner · 1 June 2026Oaktree-backed Pure Data Centres is launching a carbon removal credit platform via subsidiary A Healthier Earth targeting hyperscalers (Microsoft, Amazon, Google); expansion of 3GW AI-focused data center campuses across Europe/UK with £5B ($6.7B) 2025 valuation. Oaktree has paused new Middle East investments following Iranian attacks on Yas Island facility.
• DoubleLine Capital LPco-positioning in ai credit hedgingStrategic or Co-development Partner · 1 June 2026DoubleLine and Oaktree are both positioning defensively in credit markets, purchasing debt instruments to hedge against potential AI infrastructure debt repricing; commentary at Bloomberg Global Credit Forum (June 2026).
• Brookfield Asset Managementflagship parent / controlling ownerStrategic or Co-development Partner · 1 May 2026Brookfield is acquiring the remaining Oaktree Capital Management shares (~$3B transaction begun in 2019, closing expected Q2 2026) and provides capital support such as purchasing 1.7% of the Oaktree Strategic Credit Fund to meet Q1 2026 redemptions. Brookfield raised $21B in fee-bearing capital in Q1 2026 and reached $614B in fee-bearing capital, with full integration enabling cross-platform distribution.
• Sharon AI Holdings Inc. (NASDAQ: SHAZ)flagship ai infrastructure investmentStrategic or Co-development Partner · 1 May 2026Oaktree led the $350M convertible senior notes offering (closing April 30, 2026) and anchored the $1.6B private placement financing (~$900M common stock/pre-funded warrants plus $700M in 4.75% convertible senior notes due 2032), with Goldman Sachs as lead placement agent. Oaktree also led Sharon AI's $125M Nasdaq IPO in February 2026. Proceeds fund a six-year NVIDIA collaboration to deploy up to 40,000 Grace Blackwell GB300 GPUs.
• Spectrum Brands Holdingsstrategic consumer products investmentStrategic or Co-development Partner · 1 May 2026$127M strategic investment in Spectrum Brands' Home and Personal Care (HPC) business, structured as $67M convertible preferred equity (≈27% equity stake) and $60M first lien term loan. Investment removes HPC from the parent's collateral package and advances Spectrum's plan to separate the HPC unit. Closing expected on or about May 11, 2026.
• ENERCON (via Arlington Capital Partners / POND merger)divestiture / exit transactionStrategic or Co-development Partner · 1 April 2026ENERCON (specialized nuclear and power engineering firm) was sold by Oaktree to Arlington Capital Partners, who merged it with portfolio company POND to create a 2,700+ professional power engineering platform; management invested over $100M alongside Arlington.
• North Mill Equipment Financeservicing partner for abs platformImplementation/ SI/ Consulting Partner · 1 April 2026North Mill Equipment Finance services Oaktree's $355.8M asset-backed securitization OAKEF 2026-1; underlying equipment finance assets acquired from Midland Equipment Finance in November 2025. Truist Securities acts as lead structuring agent and Deutsche Bank as co-manager.
• Root Partners / Root Valuationnew healthcare practice acquisitionStrategic or Co-development Partner · 1 April 2026Jason Ruchaber (Root Partners founder) joined Great American Holdings (majority-owned by Oaktree) as Managing Director and Healthcare Practice Leader; Root team joins GA Group to provide healthcare business transaction valuation, fair market value opinions, and economic damages assessment.
• Advantage Capital Holdings (A-CAP)insurance restructuring counterpartyStrategic or Co-development Partner · 1 March 2026Oaktree signed master transaction agreement with A-CAP to acquire controlling stake in Atlantic Coast Life Insurance Company and provide capital support to Sentinel Security Life Insurance Company via a surplus note investment, both linked to the collapse of 777 Partners. Atlantic Coast Life holds ~6,000 active policies and >$1.5B in liabilities.
• AVK-SEGmicrogrid infrastructure partnerStrategic or Co-development Partner · 1 March 2026Partner with Pure Data Centres Group (Oaktree-backed) to launch Europe's first off-grid data center microgrid in Dublin - a 110MW facility capable of running on biomethane or hydrogenated vegetable oil, addressing Ireland's data center power requirements.
• Inter Milan (FC Internazionale Milano)strategic sports ownershipStrategic or Co-development Partner · 1 March 2026Oaktree Capital Management owns Inter Milan and is reportedly sanctioning the club's pursuit of Bayern Munich midfielder Leon Goretzka when his contract expires in June 2026, despite Oaktree's general policy against high-value contracts for players in their thirties.
• RedCat (UK hospitality group / Coaching Inn Group)hospitality portfolio companyStrategic or Co-development Partner · 1 March 2026Oaktree-backed RedCat (owner of Coaching Inn Group with 43 sites) is exploring new investment options with Rothschild & Co. as advisor; valuation discussed in several hundred million pounds range.
• Octave Specialty Group (formerly Ambac Financial Group)acquirer of legacy insurance businessStrategic or Co-development Partner · 1 September 2025Oaktree Capital Management acquired Ambac's legacy financial guarantee business for $420M in September 2025 as part of Octave Specialty Group's transformation from a bond guarantor to a specialty P&C MGA distribution platform (gross premiums $1.312B in FY2025).
• Consolidated Chassis Management LLC (CCM)logistics supply-chain portfolio companyStrategic or Co-development Partner · 1 October 2023Oaktree funds acquired CCM, a manager of marine chassis pools in the U.S., to support the launch of the South Atlantic Consolidated Chassis Pool (SACP 3.0) on October 1, 2023, with 45,000+ new and refurbished chassis across key U.S. ports and inland hubs.
• 17Capitalflagship nav finance subsidiaryStrategic or Co-development Partner · 1 July 2022Oaktree acquired a majority stake in 17Capital (London-based private equity finance firm) in March 2022 and completed the acquisition July 2022. Strategic move to expand Oaktree's NAV finance segment using Oaktree's global network; 17Capital remains a separately listed entity under 'Other Investors' on Oaktree's website.
• Interblockluxury gaming portfolio companyStrategic or Co-development Partner · 1 June 2022Interblock, a leader in electronic table games, was acquired by funds managed by Oaktree Capital Management to continue growth and innovation in the luxury gaming sector.

Scale indicators13 records

Recent moves9 records

Expansion highlights7 records

Direct peers

• TPG: Alternative asset manager with Credit, Private Equity, Real Estate, and Impact strategies. Comparable to Oaktree in special situations, distressed debt, and private credit origination.
• Apollo Global Management: Apollo is a leading global alternative asset manager with strong overlap in private credit (Athene/Ampere), direct lending, distressed debt, and private equity. Directly comparable to Oaktree across Credit, Equity, and Real Estate strategies and similarly operates BDCs, interval funds, and insurance balance sheet strategies.
• Ares Management: Ares is a major alternative asset manager with deep overlap in private credit (Ares Capital BDC, direct lending), private equity, and real estate. Closely comparable to Oaktree on credit-led strategy mix and institutional distribution model.
• Carlyle Group: Global alternative asset manager with Credit, Private Equity, and Real Estate strategies of comparable scale. Direct competitor in private credit, distressed debt, and middle-market direct lending.
• Bain Capital: Major alternative asset manager with Credit, Private Equity, Real Estate, and Special Situations strategies. Directly comparable to Oaktree on multi-strategy alternatives platform and institutional client base.

Emerging players

• Blue Owl Capital: Alternative asset manager formed in 2021 with significant focus on private credit (Owl Rock) and direct lending. Comparable to Oaktree's Strategic Credit Fund and OSLC BDC vehicles but with shorter track record.
• Sixth Street Partners: Alternative asset manager specializing in private credit and direct lending with growing insurance balance sheet strategy. Closely comparable to Oaktree's credit-led approach and middle-market direct lending platform.

Broad incumbents

• Blackstone: The largest global alternative asset manager with Credit, Private Equity, Real Estate, and Hedge Fund Solutions strategies. Larger and more diversified than Oaktree but with significant overlap in alternative credit and real estate debt strategies.
• KKR: Global alternative asset manager with comparable multi-strategy platform spanning Credit, Private Equity, Real Estate, and Insurance (Global Atlantic). Direct overlap in private credit, direct lending, and insurance balance sheet strategies.
• Brookfield Asset Management: Oaktree's parent and the acquirer of remaining shares (~$3B). Brookfield operates a $614B fee-bearing capital platform across Credit, Private Equity, Infrastructure, and Real Estate. Functions as both parent and overlapping platform with material strategic integration in alternative credit.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/oaktree
• YouTubeyoutube.com/oaktreecapital
• Facebookfacebook.com/oaktreecapital
• LinkedInlinkedin.com/company/oaktree-capital-management

Compliance14 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries18 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A41 records

Investments133 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Oaktree Capital Management