The management of Oaktree Capital has finally initiated fourth mezzanine fund because the upset asset investors of Los Angeles have headed off toward the end of investment period. The holds the opinion that “Oaktree Capital had not started a fund raising campaign for filling the form D of Oaktree Mezzanine Fund IV and the first sale of fund was yet to take place”.
It is said that Chairman Howard Marks has been appointed as the “Chief Executive Office of the fund while Brush Karsh has been nominated for Chief Investment Officer”.
It goes without saying; Oaktree Capital had already launched a series of funds and in 2010 Oaktree Mezzanine Fund III was supposed to culminate $1.6 billion. The objective of this fund is to earn a high return with the help of engineering a vast portfolio of mezzanine debt and it is targeting those companies that have sustainable cash flow, a proven management team, strong relative position in its market, and/or a well developed business strategy.”
It is said that the Fund III’s investment period is supposed to be completed on Dec. 15, 2014 and Oaktree Capital has literally declined to pass any comment on this fund. Reuters Buyouts Magazine states that “U.S. sponsors of mezzanine limited partnerships had raised an estimated $7.5 billion in 2013 from $8.9 billion in 2012 and these loan providers have been facing consistent pressure from different sources in one way or other”.