Oaktree Capital Group is the private equity firm of Einhorn’s fellow noted money manager and market prognosticator, Howard Marks, which focuses on alternative markets and had $75 billion in assets under management at the end of 2011. It just held its IPO on April 11, pricing 8.8 million shares at $43 each and raising about $380 million. It originally planned to sell 11.3 million shares at $43 to $46 each. The offering was 6% of shares outstanding, which valued the company at $6.5 billion. Since Oaktree’s IPO, the stock price has declined 6.45%.
Oaktree describes itself as “experts in credit and contrarian, value-oriented investing.” The firm doubled its assets under management from Dec. 31, 2006 through June 30, 2011, and has achieved an aggregated gross internal rate of return of 20.2%.
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