Oaktree’s $220 Million Class A Unit Offering


Simpson Thacher represented Oaktree Capital Group, LLC in its offering of 5,000,000 Class A units representing limited liability company interests of Oaktree, resulting in approximately $220 million in net proceeds to the Company. Morgan Stanley & Co. LLC was the underwriter for the offering.

The offering was made pursuant to the Company’s effective shelf registration statement on Form S-3 (File No. 333-211371) and a related prospectus, filed with the Securities and Exchange Commission (the “SEC”) on May 13, 2016, and the related prospectus supplement, filed with the SEC on February 9, 2018.

The Company intends to use the net proceeds from the offering to acquire interests in its business from certain of its directors, current and former employees and other investors, including certain senior executives and other members of its senior management.

Oaktree Capital Group, LLC is a leader among global investment managers specializing in alternative investments, with $100 billion in assets under management as of December 31, 2017. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 900 employees and offices in 18 cities worldwide.

The Simpson Thacher team included Dan Webb (Picture), Andy Roy and Jay Higdon (Capital Markets); and Katharine Moir and Jacqueline Clinton (Tax).

Involved fees earner: Daniel Webb – Simpson Thacher & Bartlett; Andrew Roy – Simpson Thacher & Bartlett; Katharine Moir – Simpson Thacher & Bartlett; Jacqueline Clinton – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Oaktree Capital Management;

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Author: Ambrogio Visconti