Oaktree prices historic private offering


Oaktree Capital Management found plenty of demand for the milestone 144A offering it sold on Monday, resulting in competitive pricing that bodes well for hedge funds offering securities into this brand new market.

Underwriter Goldman Sachs, fielding more demand than it had securities, was able to place the deal at $44 per “unit,” the upper end of the $40 to $44 price range that had been discussed with investors. Goldman also upsized the deal to about $880 million from $748 million.

Oaktree, the $42 billion Los Angeles distressed debt specialist and diversified alternative investment manager founded by Howard