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Oaktree Capital Management is a global asset management firm specializing in alternative investment strategies. Oaktree emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. As of March 31, 2015, the company managed $99.9 billion, primarily on behalf of pension funds, foundations, endowments, and sovereign wealth funds. On April 12, 2012, Oaktree Capital Group LLC became listed on the .〔〔 The firm was co-founded in 1995 by a group who had formerly worked together at the TCW Group starting in the 1980s. Oaktree quickly established a reputation in the high-yield and distressed-debt markets.〔 As of 2012 it has over 700 employees〔 and offices in Los Angeles, where it is headquartered, London, New York, Hong Kong, Stamford (Connecticut), Tokyo, Luxembourg, Paris, Frankfurt, Singapore, Seoul, Beijing and Amsterdam.〔 ==Firm overview== With headquarters in Los Angeles,〔Vincent, Roger (November 14, 2014) ("Oaktree Capital agrees to expand offices in downtown Los Angeles" ) ''Los Angeles Times''〕 the firm has over 700 employees〔 and offices in 13 cities worldwide (Los Angeles, London, New York, Hong Kong, Stamford (Connecticut), Tokyo, Luxembourg, Paris, Frankfurt, Singapore, Seoul, Beijing and Amsterdam).〔 ;Investment philosophy Oaktree has a value-oriented investment philosophy, emphasizing risk-control, consistency and specialization, with a focus on opportunities that offer a margin of safety.〔 On November 12, 2011, the ''Financial Times'' said of Oaktree’s approach: “the heart of risk management Oaktree-style, with its emphasis on living to fight another day, is simple. Oaktree doesn’t use leverage and eschews overly complicated hedging strategies.”〔 The firm specializes in off-the-beaten-path and contrarian investments,〔 and favors companies with tangible assets.〔 The firm's motto is “if we avoid the losers, the winners will take care of themselves.”〔 ;Investment focus Oaktree invests across the capital structure, with an emphasis on senior debt in companies and markets where it has what it calls a “knowledge advantage.” Distressed or otherwise ailing companies, according to Oaktree, provide such opportunities. The company’s chairman, Howard Marks, has been described as “one of the savviest investors in the world,”〔 and is known in the investment community for letters to investors called the "Oaktree memos”.〔 Since its 1995 formation, Oaktree has become the largest distressed-debt investor in the world.〔〔 In 2008, it raised $10.9 billion for what was the largest-ever distressed debt fund, its Opportunities Fund VIIb.〔 As reported in ''The Washington Post'' on June 26, 2011, Oaktree’s 17 distressed-debt funds (which do not use leverage) have averaged annual gains of 19% after fees for the past 22 years.〔 In addition to credit investments in distressed debt and high-yield bonds, Oaktree also invests in areas such as private equity, real estate and listed equities. In recent years, the company has expanded its real estate activities.〔 ;Investor-base Oaktree’s investor-base primarily includes pension plans (global and U.S.), endowments and foundations, and sovereign wealth funds. 100 of the 300 largest global pension plans, 75 of the 100 largest U.S. pension plans, 39 state pension plans, 312 endowments and foundations, and 10 sovereign wealth fund nations. According to the ''Wall Street Journal'', Oaktree has “long been considered a stable repository for pension-fund and endowment money.”〔 The company’s distressed-debt funds are often over-subscribed, and in 2010 Oaktree turned down potential investors due to self-imposed limits on fund size.〔 By law, clients are required to be so-called accredited investors, however, sub-advisory relationships with mutual funds such as The Vanguard Group and Russell Investment Group provide smaller investors access to Oaktree’s portfolio managers. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Oaktree Capital Management」の詳細全文を読む スポンサード リンク
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