NEW YORK, Oct. 13, 2025 (GLOBE NEWSWIRE) -- Brookfield and Oaktree have agreed on a proposed transaction whereby Brookfield will acquire the approximately 26% interest in Oaktree that it does not already own. Upon completion of the proposed transaction, Brookfield will own 100% of Oaktree, one of the world’s premier credit managers, further strengthening Brookfield’s market-leading and broad-based credit platform.

Under the proposed terms of the transaction, Brookfield Asset Management Ltd. (“BAM”) and Brookfield Corporation (“BN”) will acquire all of the remaining common equity interests in the Oaktree business for total consideration of approximately $3 billion. Subject to the terms of the transaction, Oaktree common equity holders will have the option to elect consideration in the form of cash, shares of BAM, or, subject to certain limitations, shares of BN. The BAM and BN shares issued as consideration will be subject to two-year and five-year lock-ups, respectively, providing Oaktree’s holders with the opportunity to participate in the future growth and benefits of the combined business, while further enhancing long-term alignment. Each of BAM and BN intends to acquire a number of its own shares corresponding to the amount issued under the transaction. Such purchases will be conducted either in the ordinary course on the open market or, in the case of BAM and subject to regulatory approvals, from BN, which has agreed to make such shares available, ensuring that the transaction has little to no dilutive impact to existing BAM and BN shareholders.

Mr. Marks and Bruce Karsh, Co-Chairman and Chief Investment Officer of Oaktree, will continue their involvement at senior levels of the business. Mr. Marks will remain on the BN Board, and it is intended that Mr. Karsh will join the BAM Board upon or prior to closing. Robert O’Leary and Armen Panossian, Co-CEOs of Oaktree, will also become Co-CEOs of Brookfield’s credit business.

Including 100% of Oaktree, BAM generated approximately $2.8 billion of fee-related earnings over the last twelve months, further establishing its position as one of the world’s leading alternative asset managers, with one of the most comprehensive suites of alternative investment products for investors globally. The transaction is also expected to bolster BN’s distributable earnings by providing increased participation in the net carried interest earned from Oaktree funds and its balance sheet investments.

The proposed transaction is expected to close in the first quarter of 2026, subject to regulatory approvals and customary closing conditions, and is expected to be accretive to both BAM and BN.

This transaction establishes the U.S. as BAM’s largest and most significant market, where it manages over $550 billion of critical assets and services operating across the country. Upon completion, more than 50% of BAM’s employees will be based in the U.S., and approximately 50% of revenue will be generated here. The addition of one of the largest U.S.-based credit managers deepens BAM’s long-standing presence in the country, strengthens its commitment to investing in the U.S. economy, and expands its U.S. shareholder base, further aligning the company with broader inclusion in U.S. market indices.

Transaction Details

Of the $3 billion purchase price, BAM and BN will fund approximately $1.6 billion and $1.4 billion, respectively, reflecting their proportional ownership of Oaktree today.

BAM will acquire, among other things, an incremental 26% interest in Oaktree’s: fee-related earnings; carried interest from certain funds (net of BN’s 33% royalty); and partner manager interest in 17Capital and DoubleLine.

BN will acquire, among other things, an incremental 26% interest in Oaktree’s balance sheet investments and the remaining carried interest.

This transaction will not result in any material changes to the operations or strategic plans of BAM or BN.

About Brookfield
Brookfield Corporation

Brookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. BN has three core businesses: Alternative Asset Management, Wealth Solutions, and its Operating Businesses which are in renewable power, infrastructure, business and industrial services, and real estate.

BN has a track record of delivering 15%+ annualized returns to shareholders for over 30 years, supported by its unrivaled investment and operational experience. BN’s conservatively managed balance sheet, extensive operational experience, and global sourcing networks allow it to consistently access unique opportunities. At the center of BN’s success is the Brookfield Ecosystem, which is based on the fundamental principle that each group within Brookfield benefits from being part of the broader organization. Brookfield Corporation is publicly traded in New York and Toronto (NYSE: BN, TSX: BN).

Brookfield Asset Management

Brookfield Asset Management Ltd. is a leading global alternative asset manager, headquartered in New York, with over $1 trillion of assets under management across infrastructure, renewable power and transition, private equity, real estate, and credit. BAM invests client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. BAM offers a range of alternative investment products to investors around the world—including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors. BAM draws on Brookfield’s heritage as an owner and operator to invest for value and generate strong returns for its clients, across economic cycles. Brookfield Asset Management is publicly traded in New York and Toronto (NYSE: BAM, TSX: BAM).

For more information, please visit our website at www.brookfield.com.

About Oaktree

Oaktree is a leader among global investment managers specializing in alternative investments, with $209 billion in assets under management as of June 30, 2025. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,450 employees and offices in 26 cities worldwide. For additional information, please visit Oaktree’s website at www.oaktreecapital.com.

Brookfield Media:
Kerrie McHugh
Tel: (212) 618-3469
Email:kerrie.mchugh@brookfield.com

Brookfield Investor Relations:
Jason Fooks
Tel: (212) 417-2442
Email:jason.fooks@brookfield.com

Oaktree Media:
Lindsay DeLarme
Tel: (213) 356-3028
Email:mediainquiries@oaktreecapital.com