Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Oaktree Said to Raise $4 Billion Distressed European Asset Fund

March 6 (Bloomberg) -- Oaktree Capital Management LP, a Los Angeles-based investor that oversees $75 billion, raised a 3 billion-euro ($3.9 billion) fund focusing on taking control of distressed European companies through their debt or equity, according to two people with knowledge of the situation.

The European Principal Fund III raised 20 percent more than its initial target of 2.5 billion euros and 76 percent more than Oaktree’s previous fund using the same strategy in 2008, said the people, who declined to be identified because the matter isn’t public.

An Oaktree official, who declined to be identified citing company policy, wouldn’t comment.

Distressed asset-investment funds worldwide recorded a 3.2 percent return in January, compared with 2.1 percent a year earlier, according to an index compiled by New York-based adviser Hennessee Group LLC.

To contact the reporter on this story: Patricia Kuo in London at pkuo2@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.