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Oaktree raises $710 million for sixth distress fund

by Andrea Waitrovich

Oaktree Capital Group has raised $710.3 million for its Oaktree Real Estate Opportunities Fund VI (ROF VI), according to a filing with the Securities and Exchange Commission. A final closing date was not disclosed.

The filing follows the firm’s second close for the fund in January 2013. ROF VI raised $436 million in equity. The opportunistic fund was launched in May 2012 with a $1.5 billion fundraising goal. It will invest in distress properties in the United States.

ROF VI is expected to be slightly larger than its predecessor Oaktree Real Estate Opportunities Fund V, which closed with $1.283 billion in May 2012.

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