Oaktree Capital racks up 1.2bn euros for third European private debt fund

• ECS III had drawn 36 percent of committed capital and invested almost 609 million euros across 24 loans as of March 2023
• Oaktree has $170 billion in assets under management, as of 31 December 2022
• Oaktree’s Private Credit platform was created in 2001 and manages approximately $24 billion

Oaktree Capital Management has closed its third European private debt fund at 1.2 billion euros.

Oaktree European Capital Solutions Fund III provides debt financing to performing non-sponsor middle-market borrowers across Europe.

ECS III had drawn 36 percent of committed capital and invested almost 609 million euros across 24 loans as of March 2023.

“As traditional European capital providers retreat from certain areas of the market, there is a compelling opportunity for capable private lenders to provide much needed capital backed by strong assets,” said Nael Khatoun, managing director and portfolio manager of Oaktree’s European private debt strategy, in a statement. “Oaktree has been active in the European private credit market for over a decade. We are excited to build on our strong momentum while supporting the growth and development of some of the continent’s leading non-sponsor borrowers.”

Oaktree has $170 billion in assets under management, as of 31 December 2022.

Oaktree’s Private Credit platform was created in 2001 and manages approximately $24 billion.