Oaktree Launches Financing Platform for Residential Developers

Oaktree Capital Management has helped form Sentinel Capital Funding, a new source of financing for residential developers. No financial terms were disclosed. Oaktree’s partners on the deal are Eugene Rosenfeld and Craig Manchester, principals of Integral Communities.


Eugene S. Rosenfeld and Craig Manchester, principals of Integral Communities, have teamed with a fund managed by Oaktree Capital Management, L.P. to form Sentinel Capital Funding, a new source of financing for residential developers. The venture combines the significant residential finance and development experience of Rosenfeld and Manchester with Oaktree’s expertise in real estate investments.

“Conventional financing for residential land development and homebuilding has come to a standstill,” said Manchester, managing partner of Sentinel Capital. “This is a great opportunity for an unconventional lender with seasoned leadership to fill a void in the market. With our deep knowledge of the industry and Oaktree’s extensive track record in real estate investments, we bring a strong team onto the playing field.”

An Executive Committee, comprised of representatives of both firms, will serve as a Lending Committee to approve loans to homebuilders and residential land developers for properties throughout the West Coast. Lending operations will be implemented by Sentinel Capital staff headed by President Bruce Beck, a career residential construction lender who began his career at Bank of America. Beck can be reached at (949) 706-2634.


Oaktree (GSTrUE: OAKTRZ) is a premier global alternative and non-traditional investment manager with over $65 billion in assets under management as of September 30, 2009. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, high yield and convertible bonds, specialized private equity (including power infrastructure), real estate, emerging market and Japanese securities, and mezzanine finance. Headquartered in Los Angeles, the firm today has approximately 580 employees and offices in 14 cities worldwide. For more information, please visit www.oaktreecapital.com


Integral Communities is a diversified real estate company specializing in residential housing development and investment. Integral’s principals are the key executives that transformed Western Pacific Housing, a leading California homebuilding company into the nation’s 12(th) largest homebuilder. For more information, please visit www.integralcommunities.com