Oaktree Raises $4B For Distressed Euro Assets

Mar 6 2012 | 1:27pm ET

Los Angeles-based hedge fund and asset management firm Oaktree Capital Management has raised a €3 billion ($3.9 billion) fund focused on taking control of distressed European companies through their debt or equity, reports Bloomberg.

Citing two people “with knowledge of the situation,” Bloomberg says Oaktree, which manages $75 billion, has raised 20% more than its initial €2.5 billion target for the European Principal Fund III and 76% more than it did in 2008 for a fund deploying a similar strategy.

Today, Oaktree has approximately 600 employees in Los Angeles (headquarters), New York, Stamford, Conn., Amsterdam, Frankfurt, London, Luxembourg, Paris, Beijing, Hong Kong, Seoul, Singapore and Tokyo.

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