Brookfield completes full acquisition of Oaktree

Brookfield Asset Management ↗ 0.35% completed its acquisition of Oaktree Capital Management on August 3, fully combining the two firms in a deal that expands Brookfield's global credit platform to $365 billion and makes the United States its largest market.brookfield+1

A Seven-Year Partnership Becomes One

The transaction concludes a relationship that began in 2019 when Brookfield acquired roughly 62% of Oaktree for $4.8 billion. Under the terms announced in October 2025, Brookfield Corporation ↗ 1.25% and Brookfield Asset Management agreed to acquire the remaining 26% stake for approximately $3 billion, valuing Oaktree at around $11.5 billion.bam.brookfield+3

"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," Connor Teskey, CEO of Brookfield Asset Management, said in a statement.brookfield

The combined credit platform now spans opportunistic credit, real asset credit, asset-backed finance, and corporate performing credit, serving institutions, financial advisors, and individuals.brookfield

Leadership and U.S. Footprint

Howard Marks, Oaktree's co-founder, will serve as co-chair of Oaktree alongside Bruce Karsh, who remains chief investment officer. Marks also holds roles as a director of Brookfield Corporation and chair of Brookfield's Investment Solutions Group.brookfield

With the deal closed, the U.S. is now home to more than 60% of Brookfield Asset Management's employees and generates nearly half of its revenue. Oaktree's presence in 18 countries further broadens the reach of Brookfield's credit business.brookfield

Deal Background

Law firm Weil, Gotshal & Manges advised Brookfield on the transaction, with a team led by corporate partners Alexander Miachika, Brian Parness, and Amanda Fenster. Brookfield, which manages more than $1 trillion in assets, is publicly traded in New York and Toronto.weil+1