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National   /   March 24, 2021

Paul Bubny
By: Paul Bubny

Oaktree Closes Largest RE Opportunities Fund at $4.7B

Oaktree Capital Management has reached a successful final close of Oaktree Real Estate Opportunities Fund VIII and related vehicles (ROF VIII), with total capital commitments of approximately $4.7 billion. ROF VIII is the largest Oaktree real estate fundraise to date, significantly 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 global real estate group at Los Angeles-based Oaktree. “We’re very thankful for the support and confidence we’ve received for our opportunistic, yet risk-controlled approach to investing.”

To date, ROF VIII has invested or committed approximately $1.7 billion, or about 40% 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 their leverage.

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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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