Add another $10 billion to the amount of cash flooding into distressed asset private equity funds as Oaktree Capital Management reportedly has reached the final close on its eighth fund with $10.6 billion, according to LBO Wire.
Oaktree is the latest firm to raise a fund in anticipation of a steep rise in the number of distressed companies in light of the economic slowdown and the credit crunch. Other distressed megafunds to close this year include the $4 billion WLR Recovery Fund IV LP raised by Wilbur Ross and Invesco Ltd.; and a $1 billion limited partnership for Roark Capital. Meanwhile TPG Capital is reportedly raising a $6 billion fund for distressed financial assets. - George White
Add another $10 billion to the amount of cash flooding into distressed asset private equity funds as Oaktree Capital Management reportedly has reached the final close on its eighth fund with $10.6 billion, according to LBO Wire. 
