Oaktree's insurance-dedicated fund II raises $220M in exempt offering
What's the deal? Oaktree Capital ManagementDealroom has a profile for this one. Try Dealroom → has raised $224.2 million for Oaktree Insurance Dedicated Fund IIDealroom has a profile for this one. Try Dealroom →, according to an amended exempt securities notice filed on September 10, 2026. The offering has no fixed target size.
The structure: The fund is set up as the Oaktree Insurance Dedicated Fund II Series of the SALI Multi-Series Fund, L.P.Dealroom has a profile for this one. Try Dealroom →, a Delaware limited partnership and pooled investment vehicle. SALI Fund Partners, LLCDealroom has a profile for this one. Try Dealroom → serves as general partner, with managing director Cameron J. Vail signing the notice.
Where it's based: The fund and its general partner list an address in Austin, Texas. The filing names all US states as the offering's jurisdiction.
Why now? Insurance-dedicated funds let insurers and policyholders access private investment strategies inside tax-advantaged insurance wrappers. Oaktree, a credit-focused manager, is expanding its footprint in that structure through the SALI platform.
One more thing: A separate Oaktree Insurance Dedicated Fund Series within the same SALI vehicle reported $110.6 million raised through its own indefinite-size exempt offering. That total is distinct from the $224.2 million attributed to Series II.
The signal: The two parallel SALI series point to steady demand for insurance-dedicated funds as a channel for private-market exposure. For Oaktree, the second fund marks continued growth in a niche where large credit managers are increasingly building capacity.
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