Distressed debt and real estate investor Oaktree Capital Group filed with U.S. regulators to raise up to $100 million in an initial public offering of its class A units, the latest financial firm to seek a public listing.
The company, which listed shares four years ago on a quasi-public exchange set up by Goldman Sachs
Oaktree will use part of the proceeds from the offering to acquire Oaktree Operating Group units from its affiliate Oaktree Capital Group Holdings L.P. (OCGH), it said in a filing with the U.S. Securities and Exchange Commission.
The planned listing of Oaktree follows the debut of another private equity asset managing firm, Apollo Global Management LLC
Private equity firm Carlyle Group
Los Angeles, California-based Oaktree, which was formed in 1995, has hired Goldman Sachs
The company did not reveal how many shares it planned to sell or their expected price. It plans to list its Class A units on the New York Stock Exchange under the symbol OAK.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO can be different.
(Reporting by Aditi Sharma in Bangalore; additional reporting by Megan Davies in New York; Editing by Maju Samuel and Tim Dobbyn)