Oaktree Capital Management LLC (extinct)

Oaktree Capital Management LLC (extinct)

Oaktree Capital Management LLC (extinct)

Overview
Date Founded

1995

Headquarters

1301 Avenue of the Americas,34th floor,New York, NY 10019-6022

Type of Company

Private

Industries

Investment Services & Portfolio Management

Company Description

Oaktree Capital Management (OCM) focuses on investments in less efficient markets and alternative investments. The firm employs a proprietary, bottom-up investment approach. They use overall portfolio structuring as a defensive tool to help avoid dangerous concentration. The firm tends to invest in companies in the energy minerals, consumer non-durables and finance sectors. OCM invests globally across all market-caps and maintains a medium turnover rate. Their strategies include: convertibles, high yield bonds, private equity, real estate, distressed debt and emerging markets listed equities.OCM's bottom-up approach to investing in convertibles emphasizes identifying those which are likely to capture a high percentage of the appreciation of the stocks into which they are convertible while exposed to a lower percentage of any declines which may occur. The firm manages three convertibles strategies that focus on different regions and market sectors: US, international and high income.The firm's approach to high yield bond seeks the potential high yields offered by these bonds with as little risk as possible. Their high yield portfolios purchase only the debt of solvent US and Canadian corporations with a focus on senior, cash-paying securities and thorough diversification. OCM offers strategies that focus on US and European high yield bonds, as well as a high yield plus strategy, senior bank loans strategy, a European senior loans strategy and a mezzanine finance strategy. All of OCM's strategies employ fundamental credit analysis with a bias toward risk control.OCM's distressed debt investment approach seeks to combine the protection against loss that comes from buying claims on assets at bargain prices with the substantial gains achievable from returning companies to financial viability through restructuring. The firm offers two distressed debt strategies: distressed opportunities and value opportunities.The firm's private equity strategies combine a traditional private equity approach with a distress-for-control approach. The firm invests at any level of the capital structure and the use of leverage is limited. In addition to their main private equity strategy, OCM also manages strategies that focus on investments in Europe, Asia and power infrastructure.The firm makes opportunistic, bargain-oriented real estate investments with emphasis on smaller, less prominent transactions. They diversify investments thoroughly and limit the use of leverage. OCM targets a variety of global opportunities including direct property investments, corporate investments, undervalued debt, real estate-related equity securities and real estate development. Their real estate strategies emphasize risk control while focusing on the following areas: distress, inefficiency, value added and long-term growth.OCM believes that inefficiencies and price volatility in emerging markets provide opportunities to invest in misvalued securities. Their emerging markets strategy seeks opportunities in the Asia Pacific region, Latin America, Eastern Europe, the Middle East, Africa and Russia. OCM combines a bottom-up, value-driven approach with top-down risk management.The firm also employs a long/short investment strategy that seeks substantial absolute returns.

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Recent Transactions
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OpTerra Energy Group, Inc., Oaktree Capital Management LLC purchase Bluestone Energy Services Ltd.

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Dayton Superior Corp., Oaktree Capital Management LLC purchase Block Heavy & Highway Products Co.

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Anchorage Capital Group LLC, Bavaria Yachtbau GmbH, Oaktree Capital Management LLC purchase Dufour Yachts SAS from Rhône Group LLC

Transaction Advisors
Legal Advisor

Advised onSpectrum Equity Management LP, The Carlyle Group LP (Corporate Private Equity), Bain Capital LP, Loews Cineplex Entertainment Corp. /Private Equity Group purchase Loews Cineplex Entertainment Corp. from Oaktree Capital Management LLC

Legal Advisor

Advised onSmithfield Foods, Inc., Oaktree Capital Management LLC purchase Sara Lee Corp. /European Meat Business from The Hillshire Brands Co.

Legal Advisor

Advised onIrving Place Capital Management LP, Oaktree Capital Management LLC purchase Chesapeake Corp.

Legal Advisor

Advised onIrving Place Capital Management LP, Oaktree Capital Management LLC purchase Chesapeake Corp.

Legal Advisor

Advised onSFK Pulp Fund, SFK Pulp Recycling US, Inc. purchase American Fiber Resources LLC from Cerberus Capital Management LP, Oaktree Capital Management LLC

Legal Advisor

Advised onIrving Place Capital Management LP, Oaktree Capital Management LLC purchase Chesapeake Corp.

Advisors & Consultants
Legal Advisor

Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

Legal Advisor

Partner at Kirkland & Ellis LLP

Legal Advisor

Adjunct Professor at University of Southern California Gould School of Law

Clients

The San Diego County Employees' Retirement Association invests mainly in domestic and international equities and fixed-income securities. They also have investments in real estate, commodities, finance and alternative equities.

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