Brookfield completes Oaktree buyout, cementing $365B credit arm

What's the deal? BrookfieldDealroom has a profile for this one. Try Dealroom → has completed its acquisition of OaktreeDealroom has a profile for this one. Try Dealroom →, one of the world's premier credit managers, fully merging the two platforms. The deal builds on a partnership that began in 2019 and gives Brookfield's global credit business a broad reach across opportunistic credit, real asset credit, asset-backed finance, and corporate performing credit.

Why now? The move caps seven years of collaboration between the two firms. Bob O'Leary and Armen Panossian, co-CEOs of Brookfield's Credit Group, said the partnership was "built on a shared commitment to disciplined investing and a long-term perspective."

What's the endgame? BrookfieldDealroom has a profile for this one. Try Dealroom →, which manages more than $1 trillion in assets, wants to invest across market cycles. Adding OaktreeDealroom has a profile for this one. Try Dealroom → strengthens that ability, said Connor Teskey, chief executive officer of Brookfield Asset Management. Oaktree's presence in 18 countries also widens where Brookfield can deploy capital.

Who runs it? Howard Marks becomes co-chair of Oaktree, alongside his roles as a director of Brookfield Corporation and chair of Brookfield's Investment Solutions Group. Bruce Karsh will also be co-chair while remaining Oaktree's chief investment officer.

The US now becomes Brookfield Asset Management's largest market, home to over 60% of its employees and nearly half of its revenue.

The signal: The full merger reflects the ongoing consolidation of alternative credit under a handful of large managers, as scale becomes the deciding advantage in serving institutions, advisors, and individuals worldwide.

Read more: Yahoo Finance

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