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Oaktree Capital Group, LLC Message Board

  • secrtztn secrtztn Apr 13, 2012 8:51 AM Flag


    IPOs can be a lucrative way for founders to cash out on some on their ownership of their private equity firms.

    Oaktree first sold about 13 percent of itself to clients in 2004 and then sold 16 percent of itself for net proceeds of $944.2 million to outside institutional investors in 2007 in a private placement.

    Proceeds from Oaktree's IPO will be used to buy back so-called OCGH units, which represent economic interests in the Oaktree Operating Group. Oaktree co-founders Howard Marks and Bruce Karsh each own 15.6 percent of the total OCGH units.

    Marks and Karsh are to be paid $101.9 million each from the next proceeds, according to an earlier regulatory filing by Oaktree. This will see them cut their ownership of OCGH units from 15.6 percent to 14 percent.

    Marks, 65, and Karsh, 57, founded Los Angeles, California-based Oaktree in 1995 with four other partners, all coming from asset manager TCW Group Inc. Marks and Karsh each had a net worth of $1.5 billion as of March 2012, according to Forbes.

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