Oaktree Capital Management Closes $4.7B Fund

The Oaktree Real Estate Opportunities Fund VIII now serves as the firm’s largest real estate fundraise, to date.

LOS ANGELES – Oaktree Capital Management LP has closed Oaktree Real Estate Opportunities Fund VIII and related vehicles, with capital commitments totaling $4.7 billion.

Exceeding its original target of $3.5 billion, the fund serves as the Oaktree Capital Management’s largest real estate fundraise to date.

To date, the fund has invested or committed $1.7 billion, representing about 40% of its capital, in a combination of purchases of distressed real estate-related securities made during the pandemic and more recently, relationship-based “rescue” financings for public and private real estate lenders and owners experiencing problems with their leverage.

“The COVID-19 pandemic has created a compelling set of credit-focused investment opportunities for our fund,” states John Brady, portfolio manager and head of the global real estate group at Oaktree Capital Management. “We’re very thankful for the support and confidence we’ve received for our opportunistic, yet risk-controlled approach to investing.”