Brookfield to buy a $4.7-billion stake in Oaktree Capital – Los Angeles Times

As the private equity industry gathers near record sums of assets, institutional investors aim to make big allocations to fewer firms with a wide range of products. The Brookfield-Oaktree deal creates such a one-stop shop: It bolsters the credit business of Brookfield, which has traditionally focused on real estate, and provides Oaktree, a specialist in distressed debt, exposure to assets that thrive outside turbulent economic times.

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