Brookfield has completed its acquisition of Oaktree, folding one of the best-known credit managers into its platform and lifting its credit business to $365 billion.
The deal brings together Brookfield’s scale with Oaktree’s credit franchise across opportunistic credit, real asset credit, asset-backed finance and corporate performing credit. Brookfield said the combination expands its reach across institutions, financial advisors and individuals.
The U.S. now accounts for more than 60% of Brookfield Asset Management’s employee base and nearly half of its revenue. With Oaktree added, the U.S. becomes Brookfield’s largest market.
Oaktree also adds a global footprint in 18 countries, broadening Brookfield’s credit platform beyond its existing reach. Brookfield said it now operates in over 30 countries overall and manages more than $1 trillion in assets.
Leadership at the combined credit business remains anchored by Bob O’Leary and Armen Panossian as co-chief executives. Howard Marks will serve as co-chair of Oaktree, while Bruce Karsh will also be co-chair and continue as Oaktree’s chief investment officer and portfolio manager for its global opportunities and global credit strategies.
Brookfield said its partnership with Oaktree began in 2019 and that the latest step fully brings the two platforms together. As a result of these announcements, the company's shares have moved 2.91% on the market, and are now trading at a price of $49.81. For the full picture, make sure to review Brookfield Asset Management's 8-K report.
