Deals

Brookfield to Buy Marks's Oaktree to Make Alternatives Giant

Both investment firms will continue to be run independently
Oaktree’s Howard Marks will join the board at Brookfield

Bloomberg’s Vincent Bielski reports on Brookfield taking a 62% stake in Oaktree Capital.Source: Bloomberg)

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By Gillian Tan and Scott Deveau

March 13, 2019 at 1:34 PM UTC

Updated on

March 13, 2019 at 5:10 PM UTC

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Brookfield Asset Management agreed to buy a majority stake in Oaktree Capital, a combination that would create one of the world’s largest alternative money managers.

Brookfield will acquire a 62 percent stake in Oaktree in a cash and stock deal worth roughly $4.7 billion, the companies said Wednesday in a statement.