Brookfield Completes Oaktree Acquisition in $3 Billion Cash-and-Stock Deal
The acquisition broadens Brookfield’s global credit platform and brings Oaktree’s underwriting capabilities fully inside the asset manager.
Brookfield Asset Management (BAM) completed its acquisition of Oaktree (OCSL), consolidating the credit manager within Brookfield through a transaction valued at approximately $3 billion. The deal covered the roughly 26% interest that Brookfield and Brookfield Corporation did not already own, giving the two companies full ownership of Oaktree.
Oaktree equity holders were permitted to elect cash, Brookfield Asset Management shares or, within specified limits, Brookfield Corporation shares. Brookfield Asset Management funded about $1.6 billion of the purchase price, while Brookfield Corporation funded approximately $1.4 billion, reflecting their previous proportional interests in Oaktree. Shares issued by the two buyers were subject to lockups of two years and five years, respectively. Each buyer also intended to repurchase a corresponding number of its own shares issued in the transaction.
The addition of Oaktree gave Brookfield's global credit platform a broader set of offerings spanning opportunistic credit, real asset credit, asset-backed finance and performing corporate credit. Those strategies are offered to institutions, financial advisers and individual investors.
“Brookfield has been a leading alternative asset investor for decades and over the past 20 years has built a credit business to complement its global real asset platforms,” Chief Executive Connor Teskey said. “Adding the Oaktree franchise has further strengthened our ability to invest across market cycles and opportunity sets, enhanced by Oaktree’s track record and underwriting capabilities. We look forward to building on their strong track record and deep expertise as we continue to grow our credit business globally”.
Oaktree managed $209 billion as of June 30, 2025, and employed more than 1,450 people across offices in 26 cities. The firm specializes in alternative investments and applies an opportunistic, value-oriented and risk-controlled approach across credit, equity and real estate. That reach gives Brookfield a larger base from which to expand credit products across institutional and private-wealth channels.
The acquisition completed a combination that began six years earlier, when Brookfield first partnered with Oaktree. That relationship supported a 75% increase in Oaktree’s assets under management and helped expand its private-credit and Wealth Solutions businesses. Full ownership now places Oaktree’s investing teams and underwriting expertise at the center of Brookfield’s effort to grow a credit franchise designed to deploy capital across market cycles.