Brookfield closes majority acquisition of Oaktree Capital

Brookfield Asset Management has closed its acquisition of 61.2 percent of Oaktree Capital Group, a Los Angeles-based alternative investments manager. The cash-and-stock deal saw Brookfield buy all of the outstanding Oaktree class A units and about 20 percent of the units of Oaktree Capital Group Holdings (OCGH) held by founders, senior management, and current and former employees. Brookfield said cash payable to class A unit-holders and OCGH unit-holders is about US$2.4 billion. Reuters previously estimated the deal's total value at US$4.8 billion.

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