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Brookfield to Acquire 62% of Mark’s Oaktree Capital Management Creating Alternative Investing Giant
From Yahoo Finance: “Brookfield will acquire a 62 percent stake in Oaktree in a cash and stock deal, according to a statement from the companies on Wednesday. The firms together will have approximately $475 billion of assets under management and $2.5 billion of annual fee-related revenue, the statement said. Blackstone had $472 billion in assets at year end. ... The deal brings together two alternative asset managers as the industry has been gathering a near record level of assets.” https://finance.yahoo.com/news/brookfield-agrees-acquire-majority-stake-133455104.html
Brookfield Press Release“Both Brookfield and Oaktree will continue to operate their respective businesses independently, partnering to leverage their strengths – with each remaining under its current brand and led by its existing management and investment teams. Howard Marks will continue as Co-Chairman of Oaktree, Bruce Karsh as Co‑Chairman and Chief Investment Officer, and Jay Wintrob as Chief Executive Officer ... The two companies together will have approximately $475 billion of assets under management and $2.5 billion of annual fee-related revenues ... ” https://bam.brookfield.com/press-releases/2019/03-13-2019-132118887
