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Oaktree hunts down more real estate capital just months after $2.7bn fund close

14 Jul 2014

real estate home houseOaktree Capital Management is back in the market for a new real estate fund just months after smashing its $1.5bn target for its predecessor.

The firm pulled in $2.7bn for Oaktree Real Estate Opportunities Fund VI towards the end of last year, but is already hunting for another $3bn of capital to target the sector according to peHub.

It cited a person with knowledge of the fundraise as well as marketing documents for Fund VII.

They show the vehicle will charge a 1.5 per cent management fee, have an eight per cent preferred return and 20 per cent carried interest rate.

Last month Oaktree agreed to bring on board the entire team of infrastructure investment manager Highstar Capital.

Oaktree said Highstar’s infrastructure investment strategy was complementary to its Power Opportunities strategy, which targets companies that support energy and utility infrastructure.

Last week Oaktree veteran Kevin Clayton stepped down from the firm after nearly 20 years.

Clayton is off to take the reins at Lehigh University in Pennsylvania as interim president according to the education provider’s website.

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