Brookfield Asset Management and Brookfield Corporation have finalized their acquisition of the remaining interest in Oaktree Capital Management, bringing the credit investor fully under the Brookfield group. This transaction, completed on August 3, 2026, consolidates a partnership that began in 2019. The two companies agreed to pay approximately $3 billion for the roughly 26% of Oaktree they did not previously own, with Brookfield Asset Management funding $1.6 billion and Brookfield Corporation contributing $1.4 billion.
This full ownership creates a formidable global Brookfield credit platform with approximately $365 billion in assets under management. The platform now offers a comprehensive range of solutions across opportunistic credit, private lending, real asset debt, asset-backed finance, and liquid strategies. The acquisition is poised to capitalize on the increasing demand for private credit, as banks face stricter capital requirements and borrowers seek alternative financing options outside traditional markets.
Oaktree will maintain its distinct investment identity and senior leadership within the broader Brookfield platform. Howard Marks remains Co-Chair of Oaktree, a director of Brookfield Corporation, and Chair of Brookfield’s Investment Solutions Group. Bruce Karsh continues as Oaktree’s Co-Chair, Chief Investment Officer, and portfolio manager for major credit strategies. This integration enhances Brookfield’s capabilities in opportunistic and distressed credit, a sector where Oaktree has particular strength, by leveraging Brookfield's scale and reach with Oaktree's established expertise.
The strategic rationale behind the $3 billion payout is to secure stronger fundraising, increased fee revenue, and improved investment performance from the combined entities. Credit has become a dominant and rapidly growing segment for Brookfield, accounting for about 46% of Brookfield Asset Management’s total $614 billion in fee-bearing capital at the end of the first quarter of 2026. The credit division generated $465 million in first-quarter base management fees, a 17% increase from the previous year, with fee revenue reaching approximately $1.79 billion over the preceding 12 months, marking a nearly 20% rise.
