Oaktree has launched an asset-backed income fund for US wealth investors, securing $400m (£297.4m) in committed capital.
Brookfield Asset Management’s private wealth platform said the Oaktree Asset-Backed Income Fund (OABIX) is structured as an evergreen vehicle and will invest across a range of sectors, collateral types and investment formats.
Oaktree said the fund is designed to provide private wealth investors with exposure to an asset class that has historically been accessible only to institutional investors.
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The launch comes amid a broader trend of asset managers diversifying private credit strategies beyond traditional direct lending and into asset-backed finance, as competition intensifies and institutional appetite for the niche grows.
“Asset-backed finance is one of the most compelling opportunities in private credit today,” said Armen Panossian, co-chief executive officer and head of performing credit at Oaktree. “These essential assets keep our lives, and the global economy, moving. With ongoing demand for capital and banks continuing to reduce lending, the ABF opportunity set is continuing to expand.”
The asset-backed finance fund expands Brookfield and Oaktree’s suite of evergreen vehicles for the private wealth market, which now comprises six strategies spanning credit, real estate, infrastructure and renewables and private equity.
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Brookfield has more than $1tn in assets under management, while Oaktree oversees $218bn. Brookfield acquired a majority stake in Oaktree in 2019 and announced in 2025 that it would acquire the remaining interest, taking full ownership as it seeks to expand its global credit business.
“Private wealth investors want durable income and diversification, and OABIX is positioned to address both,” said John Sweeney, chief executive of Brookfield’s Private Wealth Group. “We’re grateful to the RIAs who partnered with us to bring the strategy to market, and their engagement reflects the market’s demand for credit solutions.”
