Oaktree Closes Opportunities Fund XI at $16 Billion
November 16 2021 - 8:46AM
Business Wire
Oaktree Capital Management, L.P. (“Oaktree”) today announced the
successful final close of Oaktree Opportunities Fund XI and its
related vehicles (“Opps XI” or “the Fund”), with total capital
commitments of $15.9 billion. Opps XI is Oaktree’s largest fund in
history, exceeding its original target of $15 billion.
To date, the Fund has invested or committed to invest
approximately 70% of its capital in an attractive mix of
opportunities that are diversified across geographies, sectors and
asset classes. This swift pace of investment has been made possible
by the strategy’s all-weather, broad, and flexible investment
charter that allows the Opportunities group to consider the most
attractive public and private investments worldwide. Today, private
opportunities offer a compelling risk/reward profile, and the Fund
has invested in these in several attractive ways, including: (i)
providing capital solutions, negotiated on an exclusive basis, to
borrowers whose access to funding is limited; (ii) investing in
out-of-favor industries; and (iii) creating platforms with superior
management teams capable of exploiting undervalued, niche, or
dislocation-driven opportunities.
Opportunistic credit has been a core investment focus for
Oaktree since its inception over 25 years ago, when the firm was a
pioneer in distressed debt investing. Formerly known as “Distressed
Opportunities,” the Global Opportunities strategy officially
changed its name to better reflect how its investment style has
evolved and expanded over almost three decades. Its mandate has
broadened to include more geographies, and its approach has become
increasingly flexible. Consequently, the strategy’s most recent
vintages sought to capitalize on opportunities in markets that look
very different from those present 25 years ago.
“Oaktree has a long track record of navigating and investing
through economic cycles. This latest oversubscribed fund is further
validation of our investors’ confidence in our team,” said Bruce
Karsh, Co-Chairman and Chief Investment Officer of Oaktree and
Portfolio Manager of the Global Opportunities strategy. “We’re
grateful to our investors who believe in the value and potential of
this investment strategy at Oaktree.”
Robert O'Leary, Co-Portfolio Manager and Head of North America
for the Global Opportunities strategy, added, “Investing through
many cycles requires the flexibility to transact in a variety of
situations. Our strong deployment activity over the last 16 months
demonstrates Oaktree’s ability to quickly execute and provide
solutions across the capital structure in a diverse and swiftly
evolving opportunity set.”
“We’re proud to have built a truly global team that is well
positioned to capitalize on a wide array of investment
opportunities in the most important economic regions around the
world,” said Pedro Urquidi, Co-Portfolio Manager and Head of Global
ex-North America for the Global Opportunities strategy. Mr. Urquidi
relocated to Hong Kong in early 2019 to focus and further
capitalize on the important and highly scalable long-term
investment opportunity in Asia.
About Oaktree
Oaktree is a leader among global investment managers
specializing in alternative investments, with $158 billion in
assets under management as of September 30, 2021. The firm
emphasizes an opportunistic, value-oriented and risk-controlled
approach to investments in credit, private equity, real assets and
listed equities. The firm has over 1,000 employees and offices in
19 cities worldwide. For additional information, please visit
Oaktree’s website at http://www.oaktreecapital.com/.
Oaktree’s Global Opportunities strategy, an industry leader
since its inception over 25 years ago, combines extensive
experience in distressed bank debt, defaulted securities and
bankruptcy situations with expertise in valuing companies and
assets. The dedicated team of over 40 professionals has diverse
backgrounds in portfolio management, law, accounting, consulting,
valuation and banking. The Global Opportunities strategy’s assets
under management totaled $36 billion as of September 30, 2021.
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