Oaktree Capital Management plans to create a €1.25 billion ($1.83 billion) fund that would invest in European distressed debt, reports Bloomberg News. The fund would be more than three times larger than the firm’s first European distressed debt fund, which raised $500 million last year. “Oaktree has a lot of experience turning around troubled companies,” said Michael Rosen, cio of Angeles Investment Advisors. “The organization has demonstrated an ability to move into areas beyond the initial core competency by building teams and having resources in place before raising funds.”
Oaktree Capital Plans European Distressed Debt Fund