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.