Summary
Brookfield Asset Management Ltd. (BAM) has announced a significant strategic move to acquire the remaining 26% interest in Oaktree Capital Group, LLC that it does not currently own. This proposed transaction, valued at approximately $3 billion, will result in Brookfield owning 100% of Oaktree upon completion. The acquisition is expected to be funded proportionally between BAM and Brookfield Corporation (BN), with $1.6 billion from BAM and $1.4 billion from BN. This move is poised to enhance Brookfield's control and leverage Oaktree's key revenue streams, including fee-related earnings and carried interest, further integrating the alternative investment manager into Brookfield's broader business.
Key Highlights
- 1BAM and Brookfield Corporation to acquire the remaining 26% of Oaktree for approximately $3 billion.
- 2Upon closing, Brookfield will own 100% of Oaktree Capital Group.
- 3BAM will fund $1.6 billion and BN will fund $1.4 billion of the purchase price.
- 4Oaktree common equity holders can elect to receive cash, BAM Class A Limited Voting Shares, or BN Class A Limited Voting Shares.
- 5Acquisition is expected to close in Q1 2026, subject to regulatory approvals.
- 6BAM will gain incremental interest in Oaktree's fee-related earnings and certain carried interest.
- 7BN will acquire incremental interest in Oaktree's balance sheet investments and remaining carried interest.
Frequently Asked Questions
Brookfield Asset Management Ltd. (BAM) has announced an agreement to acquire the remaining 26% stake in Oaktree Capital Group, LLC, which it does not currently own. This will lead to Brookfield owning 100% of Oaktree.
The proposed transaction is valued at approximately $3 billion. BAM will fund $1.6 billion of the purchase price, and Brookfield Corporation (BN) will fund $1.4 billion, reflecting their existing proportional interests in Oaktree.
Oaktree common equity holders will have the option to receive consideration in the form of cash, Class A Limited Voting Shares of BAM, or, subject to certain limitations, Class A Limited Voting Shares of BN. Shares received will be subject to two-year and five-year lock-up periods, respectively.
The transaction is expected to close in the first quarter of 2026, contingent upon obtaining regulatory approvals and meeting customary closing conditions.