Deals
Oaktree Said to Start $1 Billion Partnership With Cinda
This article is for subscribers only.
Oaktree Capital Group LLC, the world’s biggest distressed-debt investor, is joining with the Chinese government-backed China Cinda Asset Management Co. to buy soured loans and troubled assets in Asia’s biggest economy.
The venture will be equally owned by Oaktree and Cinda, according to a statement today. The firms plan to invest as much as $1 billion, with half of the money coming from funds run by Los Angeles-based Oaktree, and may increase that amount depending on the success of the deals, said a person familiar with the agreement, who requested anonymity because those details aren’t public.