Date
17 October 2017

Oaktree to start US$1 bln partnership with Cinda, Bloomberg says

Oaktree Capital Group, the world’s biggest distressed-debt investor, is joining with central government-backed China Cinda Asset Management Co. to buy soured loans and troubled assets on the mainland, Bloomberg reported Tuesday, citing an unnamed source. The venture will be equally owned by Oaktree and Cinda and the firms plan to put in as much as US$1 billion, with half of the money coming from funds run by Oaktree, a person familiar with the deal said. The investment may increase depending on the success of the deals, the report quoted the source as saying.

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