Brookfield to acquire 62% of Oaktree Capital Management

Brookfield Asset Management has acquired 62 percent of Oaktree Capital Group.

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 CIO, and Jay Wintrob as CEO. Marks and Karsh will continue to have operating control of Oaktree as an independent entity for the foreseeable future. In addition, Marks will join Brookfield’s board of directors.

The two companies together will have approximately $475 billion of assets under management and $2.5 billion of annual fee-related revenues.