Oaktree Capital gets $1 billion from China Investment Corp
| September 29th, 2009 | ||
| China Investment Corp. (CIC), China’s sovereign-wealth fund, announced that it was investing $1 billion in Los Angeles-based Oaktree Capital Management LP this week. According to the Wall Street Journal, the commitment comes after over a year of negotiations with multiple management firms as CIC begins to invest in hedge funds worldwide, hoping to profit from an anticipated economic recovery. Oaktree Capital Management manages over $60 billion and offers strategies in high-yield debt, convertibles, distressed debt, private equity, and real estate, also focusing on public equities in Japan and emerging markets. Also one of the nine firms chosen as fund managers for the US Treasury’s Public-Private Investment Plan, the firm is predicted to invest CIC’s money over several years in fixed-income assets, particularly distressed debt. CIC is expected to invest $2 billion more in other hedge funds. In August, it made invested $200 million in fixed income focused start-up Capula Investment Management LLP. | ||
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For Detailed Investor Profiles on these Investors, click below: |
OakTree Capital Management |
Related People: Bruce Karsh;
Related Entities: Oaktree Distressed Opportunities;
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News
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