Oaktree Capital Management LP announced the successful close of Oaktree Real Estate Opportunities Fund VIII and related vehicles, with total capital commitments of approximately $4.7 billion. ROF VIII is the largest Oaktree real estate fundraise to date, meaningfully exceeding its original target of $3.5 billion.
“The COVID-19 pandemic has created a compelling set of credit-focused investment opportunities for our fund,” said John Brady, portfolio manager and head of the Oaktree global real estate group.
To date, the fund has invested or committed approximately $1.7 billion, or about 40 percent of its capital, in a combination of purchases of distressed real estate-related securities made early in the pandemic and, more recently, relationship-based “rescue” financings for public and private real estate lenders and owners experiencing problems with leverage.
Oaktree’s real estate strategies, with more than $11 billion in assets under management as of December 31, 2020, target a diverse range of investments across the real estate risk and return spectrum, including performing debt, core-plus and opportunistic strategies.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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