Profile: Oaktree Capital Group LLC (OAK)
27 Jul 2015
Oaktree Capital Group, LLC (Oaktree), incorporated on April 13, 2007, is a global investment manager specializing in alternative investments. The Company manages investments in a range of strategies within six asset classes, which include corporate debt, convertible securities, distressed debt, control investing, real estate and listed equities. The Company's business consists of its investment management segment, which consists of the investment management services that the Company provides to its clients. Oaktree Capital Group Holdings GP, LLC acts as the Company’s manager and is the general partner of Oaktree Capital Group Holdings, L.P., which owns 100% of the Company’s outstanding Class B units. OCGH is owned by the OCGH unitholders.
The Funds managed by Oaktree include both separate accounts and commingled funds. The commingled funds include open-end and closed-end limited partnerships. The Company’s manager is Oaktree Capital Group Holdings GP, LLC. The Company manages assets on behalf of a range of institutional investors in the world. The Company has over 2,000 clients, including 74 the United States pension plans, 39 states in the United States, 407 corporations and/or their pension funds, 351 university, charitable and other endowments and foundations, 14 sovereign wealth funds and approximately 300 other non-United States institutional investors.
The Company's closed-end funds are typically structured as limited partnerships that have a 10 or 11-year term and have a specified period during which clients can subscribe for limited partnership interests in the fund. Its closed-end funds have an investment period that generally ranges from three to five years, during which the Company is permitted to invest the committed capital of those funds. Its closed-end funds also include collateralized loan obligation vehicles (CLOs) for which the Company serves as collateral manager.
The Company's commingled open-end funds are typically structured as limited partnerships that are designed to admit clients as new limited partners (or accept additional capital from existing limited partners) on an ongoing basis during the fund’s life. Clients in commingled open-end funds typically contribute all of their committed capital upon being admitted to the fund. These funds do not have an investment period and do not distribute proceeds of realized investments to clients. The Company also provides discretionary management services for clients through separate accounts within the open-end fund strategies.
The Company's Evergreen funds invest in marketable securities, private debt or equity, in certain cases on a long and short basis. Commingled evergreen funds are designed to accept new capital on an ongoing basis and generally do not distribute proceeds of realized investments to clients. The Company also provides discretionary management services for clients through separate accounts or fund-of-ones within its evergreen fund strategies. Clients in evergreen funds are generally subject to a lock-up, which restricts their ability to withdraw their entire capital for a certain period of time after their initial subscription.
Oaktree Capital Group LLC
333 S Grand Ave Fl 28
LOS ANGELES CA 90071-1504