Oaktree opens Australia office

Beath joined the firm earlier in 2016 after 15 years with Macquarie, where he was most recently a director in the corporate and asset finance division.

"Oaktree has strong relationships and a long history of investing in Australia and New Zealand. Establishing an office in Sydney was the logical next step in increasing our exposure in the region," Matt Wilson, managing director and co-portfolio manager of Oaktree's global principal group, said in a statement.

The firm, which had $97 billion in assets under management as of year-end 2015, targets distressed and corporate debt, control investing, convertible securities, real estate and listed equities. It established an Asia Pacific presence in 1998 and has offices in Beijing, Hong Kong, Seoul, Singapore, Shanghai and Tokyo.

Oaktree's previous investment activity in Australia includes the restructuring and listing of Nine Entertainment following a debt-for-equity swap in 2013 that wiped out existing PE investors. Last year, Oaktree also contributed to a restructuring package for Australian surfwear brand Quiksilver, which took its US business into voluntary bankruptcy.

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