Investment firm Brookfield has announced it will acquire the 26 per cent stake it does not already own in alternative investment manager Oaktree, for approximately $3bn (£2.3bn).
The acquisition represents an expansion of Brookfield’s private-credit business and is expected to close in the first quarter of 2026, subject to regulatory approvals.
The funds will be provided both by Brookfield Asset Management, which will contribute $1.6bn (£1.2bn), as well as Brookfield Corporation, which will pitch in $1.4bn (£1.1bn).
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Oaktree’s current co-chief executives, Robert O’Leary and Armen Panossian, are set to become co-chief executives of Brookfield’s credit business.
Bruce Flatt, chief executive of Brookfield, said the current partnership with Oaktree surpassed the firm’s expectations. “It has fueled the rapid expansion of our private credit platform, supported the growth of our wealth solutions business, and helped drive 75 per cent growth in Oaktree’s assets under management.”
“Taking this next step will allow us to broaden our credit franchise, enhance collaboration across our businesses and strengthen our ability to continue delivering long-term value for our investors,” he added.
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“Becoming part of Brookfield in full is a natural evolution that will allow Oaktree to continue thriving as part of one of the world’s leading investment organisations,” said Oaktree’s co-chairman Howard Marks. “With this closer alignment, Oaktree will remain central to Brookfield’s credit strategy, and we see significant opportunities to grow the franchise and expand what we can offer our clients together.”
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