Oaktree Capital Management, a global investment manager based in Los Angeles, California, has announced the final close of Oaktree Opportunities Fund XII, with approximately US$16 billion of commitments, including co-investment and affiliated vehicles.

To date, the fund has more than US$7 billion invested or committed for investment in diversified businesses across geographies, sectors, and asset classes.

“Oaktree’s Global Opportunities strategy has a 36-year track record of successfully investing through multiple market cycles – generating consistently strong returns through our disciplined and diversified approach to capital deployment and risk mitigation,” says Bruce Karsh, co-chairman and chief investment officer of Oaktree, and portfolio manager of the global opportunities strategy.

“The successful raising of US$16 billion in this strategy underscores our investors’ confidence in our team and appetite for this product, and we’re deeply grateful for their trust and support.”

The fund’s current portfolio reflects the company’s preference for capital structure seniority, downside protection, and high cash coupon profile, Oaktree says.

 “We believe the hallmark of Oaktree’s Opportunistic Credit platform is our unmatched expertise and scale, enabling us to create value in complex situations, execute quickly, and gain priority access to a wide array of attractive investment opportunities," adds Bob O'Leary, co-chief executive officer of Oaktree and portfolio manager for the firm’s global opportunities strategy.

Oaktree specializes in alternative investments, including credit, equity, and real estate, with US$202 billion in assets under management as of December 31 2024. The firm has more than 1,200 employees and offices in 23 cities worldwide.