Oaktree closes $2B asset-backed finance fund
Management firm invested more than $19B through its broader asset-backed finance platform
Oaktree Capital Management closed its Asset-Backed Finance Fund I with $2 billion in commitments across the fund and related investment vehicles, reaching its fundraising target.
Global credit manager Oaktree is part of Brookfield’s $416 billion credit platform, according to an Oct. 1 release from Brookfield. Brookfield is a global investment firm with more than $1 trillion in assets under management.
The fund attracted institutional investors including U.S. public pension plans and sovereign wealth funds, according to the release. Oaktree’s asset-backed finance strategy provides capital to originators across sectors including equipment leasing, transportation, consumer finance, real estate and infrastructure.
Oaktree has invested more than $19 billion through its broader asset-backed finance platform and developed relationships with hundreds of third-party originators, according to the release.
Brendan Beer, managing director and portfolio manager at Oaktree, said the firm sees opportunities in less-crowded areas of the private asset-backed finance market and is using Brookfield’s platform to expand its sourcing capabilities, according to the release.
The fund complements Brookfield’s broader asset-based finance platform, which totals more than $60 billion and includes specialty finance, aviation lending, residential nonqualified mortgages, fund finance, music royalties and digital infrastructure leases, according to the release.
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