Oaktree files for $595m IPO

Oaktree, which had $74.9 billion in assets under management at the end of 2011, is offering 11.25 million Class A shares at $43-46 apiece. Underwriters have the option to buy an additional 1.69 million shares at a discount to the IPO price if subscriptions reach a certain threshold. Bank of America Merrill Lynch, Credit Suisse, Deutsche Bank, J.P. Morgan and six other firms are underwriting the offering. Goldman Sachs and Morgan Stanley are representing the underwriters.

Oaktree previously sold about 13% of its equity to clients in 2004 and then offloaded another 16% for $944.2 million through a private placement to institutional investors in 2007.

The Blackstone Group, KKR and Apollo Global Management have all gone public in recent years, although their stocks have generally performed poorly. Analysts pointed to an uptick in recent months as evidence that Oaktree's offering might be reasonably well received. The Carlyle Group is also preparing for an IPO.

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• Topics
• North America
• Financials
• GPs
• Exits
• Oaktree Capital
• IPO
• USA
• The Carlyle Group
• The Blackstone Group
• KKR
• Apollo Global Management