Oaktree Co-CEO Sees Private Credit Trades as Low as 50 Cents
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Private credit fund investors are offloading stakes at significant discounts ahead of more potential pain for the US economy, Oaktree Capital Management Co-Chief Executive Officer Robert O’Leary said.
Oaktree sees more chances to buy marked-down assets in continuation vehicles and in secondary markets, where private asset holders sell stakes in relatively illiquid funds to bring returns to their own investors. That activity has been building in private equity for some time, but credit investors are now putting up bigger trades, O’Leary said this week in a telephone interview.