Deals
Marks’s Oaktree Files to Raise Up to $517.5 Million in IPO
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Oaktree Capital Group LLC, the world’s largest distressed-debt investor, filed to raise as much as $517.5 million in an initial public offering. Co-founders Howard Marks and Bruce Karsh are set to get about 40 percent of the proceeds from the sale.
The firm plans to sell 10.3 million shares at $43 to $46 each, Los Angeles-based Oaktree said today in a filing with the U.S. Securities and Exchange Commission. Some of its existing shareholders, including Clipper Fund Inc., will sell nearly 1 million shares.