Oaktree Capital Management has raised $8.4 billion through September, including $3 billion through new strategies, according to a third quarter earnings report released Friday.
“The third quarter was another period of strong investment returns across our platform of diversified alternative investment strategies. This performance continues to drive fundraising success,” Chairman Howard Marks said in a statement. “Notably in the third quarter, gross capital raised was $3.7 billion, bringing the total for the first nine months of this year to $8.4 billion, including $3.0 billion for strategies that did not exist two years ago.”
The firm’s Oaktree Real Estate Opportunities Fund VI held a close on $2.3 billion in September and its European Private Debt strategy closed on $753 million this month. Oaktree’s Strategic Credit strategy has reached $1.8 billion in commitments, according to the report. An additional $459 million has been raised for its emerging markets debt strategy.
The fundraising performance was likely bolstered by strong returns for the firm’s other investment vehicles. Closed end funds have distributed $15.5 billion over the last year, according to the report. This led to the firm’s overall assets under management to fall $1.2 billion from 30 September, 2012 total of $81 billion.
Last month, the San Bernardino County Employees’ Retirement Association approved a separate account that will include $82 million of SBCERA’s existing investments in Oaktree’s convertibles strategy plus an annual commitment of at least $30 million per year over the next five years, according to a term sheet made available to PDI by the retirement association.