Oaktree Capital Declines 1.4% in Trading Debut After IPO

Oaktree Capital Group LLC, the world’s largest distressed-debt investor, fell on its first day of trading after raising less than sought in an initial public offering.

Oaktree, which began trading today on the New York Stock Exchange under the ticker symbol OAK, declined 1.4 percent to $42.39 at the close of trading after losing as much as 5.5 percent. The Los Angeles-based firm, co-founded by Howard Marks and Bruce Karsh, raised $380.2 million in its IPO yesterday, about 27 percent less than originally sought.