Investment Funds
Oaktree’s current investment activities are divided across six main asset classes: distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Fund structures within each asset class vary, and are organized into closed-end, open-end, or so-called “evergreen” fund types.
Oaktree’s fund offerings are organized into three broad categories based on liquidity and lock-up period:
- Closed-End Funds: Closed-end funds are structured as limited partnerships that have a 10- or 11-year term and have a specified period during which clients can subscribe for limited partnership interests in the fund. Closed-end funds have a three-, four- or five-year investment period.
- Open-End Funds: Commingled open-end funds are structured as limited partnerships that admit clients as new limited partners on an ongoing basis. Unlike close-end funds, these funds do not have an investment period. Capital may be committed to new investments at any time during the fund’s life.
- Evergreen Funds: “Evergreen funds” invest in marketable securities on a long and short basis. Like open-end funds, Oaktree’s evergreen funds accept new capital on an ongoing basis. Clients in evergreen funds are generally subject to a lock-up period of between one and three years.
The following tables list the company’s strategies and funds since inception (including TCW funds directed by Oaktree managers before they left TCW to found Oaktree in 1995):
Read more about this topic: Oaktree Capital Management
Famous quotes containing the word investment:
“There is something fascinating about science. One gets such wholesale returns of conjecture out of such a trifling investment of fact.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)