- Wraps Oaktree Enhanced Income Fund II
- In the market with three closed-end funds
- Firm to manage Highstar infrastructure fund
The pool is part of $5.3 billion of gross capital raised in the period, as Oaktree continues to market three closed-end funds and looks ahead at assuming management of Highstar Fund IV, an infrastructure vehicle.
The Los Angeles-based firm said it also closed a $502 million European collateralized loan obligation and raised $328 million in capital commitments for Oaktree Value Equity Fund LP.
Oaktree is also marketing a group of closed-end funds: Oaktree Real Estate Opportunities Fund VII LP, Oaktree Mezzanine Fund IV LP and Oaktree Principal Fund VI LP.
Oaktree expected to become the manager of Highstar Fund IV as of Aug. 1, as a result of its June 9 agreement to acquire a team from Highstar Capital, an investing specialist in U.S. energy infrastructure, waste management and transportation. Highstar’s infrastructure investment strategy complements the approach of Oaktree’s Power Opportunities , the firm said.
The fundraising updates from Oaktree came as the credit and loan investing firm said its assets under management grew by 19 percent to $91.1 billion in the second quarter, an all-time high.
Net income attributable to Oaktree Capital Group fell to $31.2 million from $56.6 million. Adjusted net income dropped to $134.7 million from $297 million in the year-ago quarter, which included a large incentive distribution from OCM Opportunities Fund VIIb LP.