Private investment major Brookfield is set to acquire the remaining 26% stake in US alternative asset manager Oaktree Capital Management for approximately $3bn, further bolstering its credit platform, according to a report by Reuters.
Under the terms of the deal, New York-based Brookfield Asset Management and its parent company Brookfield will contribute $1.6bn and $1.4bn, respectively. The acquisition will make the US Brookfield’s largest market, with $550nm in assets under management, employing over half of its workforce and generating roughly 50% of revenue.
Brookfield first acquired a majority stake in Oaktree in 2019 for $5bn, enabling it to scale its private credit business and expand its wealth solutions platform. Founded in 1995, Oaktree manages $209bn in assets, specialising in distressed debt investing.
The deal also reshapes Brookfield’s leadership: Oaktree co-CEOs Robert O’Leary and Armen Panossian will become co-CEOs of Brookfield’s credit business, while Howard Marks and Bruce Karsh will join Brookfield Asset Management’s board. Marks said Oaktree will remain central to Brookfield’s credit strategy, with opportunities to grow and broaden client offerings.
The transaction is expected to close in Q1 2026.
