Oaktree Capital Management


Oaktree Capital Management
Oaktree Capital Management, Inc.
Type Private
Industry Financial services
Founded April 1995 (1995-04)[1]
Founder(s) Howard Marks, Bruce Karsh, Steve Kaplan, Larry Keele, Richard Masson, Sheldon Stone[1]
Headquarters Los Angeles, USA
Number of locations 14[2]
Key people Howard Marks (Chairman)
Bruce Karsh (President)
John Frank (Managing Principal)
AUM US$$82.4 billion (as of 31 December 2010 (2010 -12-31))[3]
Website www.oaktreecapital.com

Oaktree Capital Management, L.P. is a global investment management corporation with about US$82.4 billion of assets under management.[3] Oaktree's mission is to provide management with a primary emphasis on risk control in a limited number of sophisticated investment specialties. Oaktree is involved in less efficient markets and alternative investments.[4]

Contents

Securities violations

The Securities And Exchange Commission issued an order finding that on four occasions from September 2003 to March 2004, Oaktree Capital Management, LLC’s Emerging Markets Fund sold securities short within five business days before the pricing of public offerings and then covered the short positions with securities purchased in the offerings.[5] Oaktree created boxed positions, and then crossed the long and short position against the other resulting in a flat position in the issuer’s stock.[5] Oaktree then instructed a broker-dealer to print the buy cover and sell long transactions to the consolidated tape.[5]Oaktree was forced to disgorge the profits it made on the prohibited transactions, and pay interest and a penalty.[5] Oaktree has since put in place policies and procedures to prevent violations in the future.[citation needed][vague]


Assets

Assets by strategy[3]
Type  % US$
(millions)
High Yield Debt 29 22,038
Convertibles 11 8,570
Distressed Debt 38 29,198
Private Equity 17 12,702
Real Estate 4 2,763
Listed Equities 1 846
TOTAL 100 76,117
Assets by client[3]
Client type  % US$
(millions)
Public Funds 37 28,383
Corporate 30 22,968
Endowments and foundations 8 6,079
Private clients 7 5,613
Insurance companies 7 5,399
Mutual funds 3 1,879
Taft-Hartley[clarification needed] 1 742
Other 7 5,054
TOTAL 100 76,117

Current investments

  • Nordenia — product packaging manufacturer in Germany[6]
  • R&R Ice Cream — a European ice cream producer based in the UK[7]
  • Sky Holding — jet airplane ownership[8]
  • Verreries de l’Orne à Ecouché (Orne) — glass etching firm — 1 April 2010[9]
  • Campofrío Food Group — (24%) European food industry [10]
Aluminum manufacturing
Media
  • Triton Media Group — media group managed by Oaktree
  • Townsquare Media — broadcast station and local media company owned by Oaktree — acquired 1 April 2010
  • Cumulus Media — An October 20, 2011, SEC filing by Oaktree shows that it has purchased 3,985,983 shares of Cumulus Media stock, giving Oaktree a position currently valued at $11,320,192 in the radio operator.
Manufacturing
  • AdvancePierre Foods (a merger completed September 30, 2010 from Pierre Foods, Advance Foods, and Advance Brands) — a food manufacturing company with facilities in Iowa, Oklahoma, Ohio, North Carolina, & South Carolina

See also

External links

References

  1. ^ a b "The Oaktree story". Los Angeles: Oaktree Capital Management. http://www.oaktreecapital.com/about/oaktree-story.aspx. Retrieved 2010-05-12. 
  2. ^ "Oaktree's global presence". Los Angeles: Oaktree Capital Management. http://www.oaktreecapital.com/about/global-presence.aspx. Retrieved 2010-05-12. 
  3. ^ a b c d "About Oaktree". Los Angeles: Oaktree Capital Management. http://www.oaktreecapital.com/about/. Retrieved 2010-05-12.  Financial figures as of 2010-03-31.
  4. ^ "Oaktree's investment philosophy". Los Angeles: Oaktree Capital Management. http://www.oaktreecapital.com/about/investment-philosophy.aspx. Retrieved 2010-05-12. 
  5. ^ a b c d "Oaktree Capital Management, LLC, Exchange Act Release No. 51709 (May 19, 2005).". May 19, 2005. Securities and Exchange Commission. http://www.sec.gov/litigation/admin/34-51709.pdf. Retrieved 10 August 2011. 
  6. ^ Billingham, Erica (2010-04-26). "Bonds plug IPO, sale gap for private equity". Reuters. http://www.reuters.com/article/idUSTRE63P4MV20100426. Retrieved 2010-05-14. "Other firms have been stepping in to fill a financing need to acquire jets. ... Oaktree Capital Management LP committed $500 million to Sky Holding Co., a new venture in the space." 
  7. ^ "Kind hearts and cornets". Darlington & Stockton Times. Gannett. 2010-05-14. http://www.darlingtonandstocktontimes.co.uk/news/northyorkshire/8166210.Kind_hearts_and_cornets/. Retrieved 2010-05-14. 
  8. ^ Hausmann, Daniel (2010-04-23). "Carlyle’s Flightplan: Betting On An Aviation Recovery". Private Equity Beat. Dow Jones. http://blogs.wsj.com/privateequity/2010/04/23/carlyles-flightplan-betting-on-an-aviation-recovery/. Retrieved 2010-05-14. 
  9. ^ "Investissement, mais coupe claire aux Verreries de l’Orne" (in French). L'Usine Nouvelle. Antony, Hauts-de-Seine, France. 2010-04-22. http://www.usinenouvelle.com/article/investissement-mais-coupe-claire-aux-verreries-de-l-orne.N130319. Retrieved 2010-05-14. 
  10. ^ "Error: no |title= specified when using {{Cite web}}". http://es.wikipedia.org/wiki/Campofr%C3%ADo_Food_Group/. 
  11. ^ Nadgir, Santosh (2010-05-13). "Aleris reorganization plan confirmed by court (UPDATE 1)". Reuters. Bangalore. http://www.reuters.com/article/idUSSGE64C0KT20100513. Retrieved 2010-05-14. 
  12. ^ "Almatis Group Files Pre-packaged Chapter 11 Cases to Implement Agreed Financial Restructuring" (Press release). Frankfurt: Almatis Group. 2010-04-30. http://www.prnewswire.com/news-releases/almatis-group-files-pre-packaged-chapter-11-cases-to-implement-agreed-financial-restructuring-92490354.html. Retrieved 2010-05-14. 



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