Thursday, April 12, 2012

OAKTREE IPO: SELLS LESS SHARES THAN TARGETED




The LA based Oaktree Capital Management raised $387m in its initial public offering, 25 per cent less than it had sought a sign of weak investor interest in private equity ahead of Carlyle’s expected listing next month.

Oaktree sold 9m shares at $43 each.  In regulatory filings the group said it had planned to sell 11.3m shares at $43 to $46 per share.

Carlyle, which has $147bn under management to Oaktree’s $82bn, is expected to start marketing its shares to investors next week.

Expectations before Oaktree shares priced at the bottom of the range were that Carlyle would seek a valuation around $8bn.

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