Oaktree Sells Stake To Institutional Investors

Oaktree Capital Management has sold a 5% equity stake to a group of six institutional investors, led by the $1.7 billion John S. & James L. Knight Foundation. Howard Marks, the firm's chairman, who announced the deal to clients in a Feb. 25 e-mail, said the sale would provide the firm with additional cash and "demonstrate the value of Oaktree to outsiders."

  • 27 Feb 2004
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Oaktree Capital Management has sold a 5% equity stake to a group of six institutional investors, led by the $1.7 billion John S. & James L. Knight Foundation. Howard Marks, the firm's chairman, who announced the deal to clients in a Feb. 25 e-mail, said the sale would provide the firm with additional cash and "demonstrate the value of Oaktree to outsiders." He declined to say how much the group paid.

Tim Crowe, the Knight Foundation's top investment officer, said the fund had been in talks on the deal for about a year, but declined to provide the specific terms of the transaction. Oaktree also manages an undisclosed amount for the Knight Foundation. Oaktree has around $25 billion in assets under management.

Marks said the 5% was agreed upon in part because the group of institutional investors had no interest in getting involved in the management of the firm. "They are financial investors, not strategic investors," he said. Oaktree is currently raising $1.25 billion for a new fund that will take control of distressed companies (see story, page 1).

  • 27 Feb 2004

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Jul 2017
1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%