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Oaktree Capital Management plans to list on NYSE: report
(Reuters) - Oaktree Capital Management is planning to list its shares on the New York Stock Exchange in a deal valuing the asset manager between $8 billion and $9 billion, the Financial Times reported, citing people familiar with the matter.
Oaktree, which listed shares four years ago on a quasi-public exchange set up by Goldman Sachs (GS.N) manages $85 billion, mostly in debt investments, the FT said.
Oaktree has hired Goldman to lead an exercise that will involve the transfer of the shares on the quasi-public exchange to the NYSE, the business daily reported.
As a result, no new money will be raised for the asset manager, the paper said.
Oaktree's planned listing follows the debut of another private equity asset managing firm -- Apollo Global Management LLC (APO.N)-- on the New York Stock Exchange on March 30.
The FT said Oaktree, which has more assets under management than KKR Financial Holdings (KFN.N) or TPG Capital, would seek a higher valuation than that of Apollo Global Management.
Oaktree Capital could not immediately be reached by Reuters for comment.
(Reporting by Siddharth Cavale in Bangalore; Editing by Gary Hill)
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