Oaktree Capital Management has held a final close for its Oaktree Real Estate Opportunities Fund VIII and related vehicles (ROF VIII), with total capital commitments of approximately $4.7 billion. ROF VIII is the largest Oaktree real estate fundraise to date, meaningfully exceeding its original target of $3.5 billion.
“The COVID-19 pandemic has created a compelling set of credit-focused investment opportunities for our fund,” said John Brady, portfolio manager and head of the global real estate group. “We’re very thankful for the support and confidence we’ve received for our opportunistic, yet risk-controlled approach to investing.”
To date, the fund has invested or committed approximately $1.7 billion, or about 40 percent of its capital, in a combination of purchases of distressed real estate-related securities made early in the pandemic and, more recently, relationship-based “rescue” financings for public and private real estate lenders and owners exp
