Oaktree wraps up third special situations fund at $3bn

• Oaktree’s special situations group targets middle-market companies experiencing stress or temporary dislocation
• As of September 30, 2023, the special situations strategy had $7.1 billion of assets under management

Oaktree Capital Management has closed its third special situations fund at about $3 billion, beating its $2.5 billion target.

Special Situations Fund III invest primarily in North America across industries, including consumer products, gaming, industrials, healthcare, media/entertainment, business and financial services and food & beverage.

“We are thrilled with the strong reception of our fundraising efforts and deeply appreciate the trust that both our returning and new investors have placed in our team and investment philosophy,” said Matthew Wilson, managing director and co-portfolio manager of the special situations group in a statement. “This successful close is a testament to our strong track record and underscores the demand for our risk-controlled approach. With the flexibility to make both credit and equity investments, we are finding no shortage of opportunities in which our unique structuring capabilities give us an edge and ultimately enable us to deliver strong returns to our investors.”

Oaktree’s special situations group invests in middle-market companies experiencing stress or temporary dislocation. As of September 30, 2023, the special situations strategy had $7.1 billion of assets under management.