Brookfield said Oaktree’s Asset-Backed Finance Fund, or ABF I, closed with $2 billion of commitments, hitting its target fundraise.
The final close came after the fund drew a globally diversified group of institutional investors, including U.S. public pension plans and sovereign wealth funds. Brookfield said the result adds to the earlier success of Oaktree’s separate asset-backed vehicle aimed at private wealth investors.
The fund sits inside a much larger platform. Brookfield said Oaktree has invested more than $19 billion across the broader asset-backed finance strategy and has built relationships with hundreds of third-party originators.
ABF I is also part of Brookfield’s wider asset-based finance platform, which now totals more than $60 billion. Brookfield said that platform spans specialty finance, residential non-qualified mortgages, aviation lending, music royalties, fund finance and digital infrastructure leases.
Brookfield said its partnership with Oaktree dates to 2019, and that the integrated setup has expanded sourcing and underwriting capabilities. The company said it operates in more than 50 countries and manages more than $1 trillion in assets under management. Following these announcements, the company's shares moved -0.87%, and are now trading at a price of $44.58. For more information, read the company's full 8-K submission here.
