OakTree Capital Management to go public on NYSE
|May 20th, 2011||
|OakTree Capital Management, the Los Angeles based hedge fund founded by Howard Marks and Bruce Karsh, has announced plans for an initial public offering on the New York Stock exchange. According to an article on NYTime’s Dealbook, OakTree previously listed a minority stake in the company on a private exchange operated by Goldman Sachs in 2007, but this will be its first move in the public markets. |
OakTree Capital Management's move follows a similar pattern to that of private equity firm Apollo Global Management, who also first listed on Goldman Sachs’s private exchange before moving them to the NYSE, raising about $400 million in its initial public offering. Oaktree has not stated how much it is looking to raise in its IPO. Market trends have seen many alternative asset management firms such as the Blackstone Group, Kohlberg Kravis Roberts, and the Fortress Investment Group all go public in the last 5 years; OakTree will be the latest addition to the list.
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