The news in August last year that Oaktree Capital Management was in the market with an ambitious $18 billion target for its latest opportunistic credit fund highlights the burgeoning appetite among LPs for strategies predicated on supporting complex borrowers through challenging times.
If it hits its target, Oaktree’s Opportunistic Fund XII would be the largest private debt fund ever raised, signalling a major shift in investor appetite away from pure distressed strategies pursuing loan-to-own or workout situations.
