Latest news from Heavy Lift & Project Forwarding International Magazine

Brookfield takes Oaktree stake

Brookfield Asset Management has acquired a 62 percent stake in Oaktree Capital Management.

Both Brookfield and Oaktree will continue to operate their respective businesses independently, with each remaining under its current brand and led by its existing management and investment teams.

Howard Marks, Bruce Karsh, and other members of Oaktree Capital Group Holdings will own 38 percent of the company.

According to Brookfield, the two companies together will have approximately USD475 billion of assets under management.

With regard to Oaktree’s shipping and logistics investments, a spokesperson from the Los Angeles-based private equity firm said: “The transaction is expected to close in the third quarter of this year, so it is business as usual for now.”

Marks and Karsh will continue as co-chairmen of Oaktree and will continue to have operating control for the foreseeable future. Karsh will also continue his role as chief investment officer, while Jay Wintrob will remain chief executive officer.

Both Marks and Karsh will join Brookfield’s board of directors.

www.oaktreecapital.com

www.brookfield.com

Heavy Lift | News

Noatum in MIQ takeover thumbnail image

Noatum in MIQ takeover

March 22 - Noatum Logistics has signed a definitive agreement to acquire USA-based MIQ Logistics. The agreement is expected to close in the coming weeks. 
Views: 622
CMA nears 90 percent stake in Ceva thumbnail image

CMA nears 90 percent stake in Ceva

March 19 - France-headquartered container shipping line CMA CGM is on course to control 89.47 percent of the shares in Swiss freight forwarder Ceva Logistics following a public tender.
Views: 719

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.