Oaktree Raises Money to Buy Back Ownership InterestsWednesday, March 5, 2014
Oaktree Capital on Wednesday priced a public offering of 5 million Class A units at an estimated $60 each, for expected gross proceeds of about $300 million.
The downtown Los Angeles investment company led intends to use the net proceeds from the offering to acquire interests in its business from some directors, executive, employees and other investors.
The offering is expected to close on Monday.
Shares closed down $2.07, or 3.4 percent, to $59.10 on the New York Stock Exchange.