Brookfield Corporation (TSX:BN) and Brookfield Asset Management Ltd. (TSX:BAM) agreed to acquire the remaining 26% stake in Oaktree Capital Management, L.P. for $3 billion on October 13, 2025. Subject to the terms of the transaction, Oaktree common equity holders will have the option to elect consideration in the form of cash, shares of BAM, or, subject to certain limitations, shares of BN. Of the $3 billion purchase price, BAM and BN will fund approximately $1.6 billion and $1.4 billion, respectively. The proposed transaction is subject to regulatory approvals and customary closing conditions, and is expected to be accretive to both BAM and BN. The proposed transaction is expected to close in the first quarter of 2026. The transaction is expected to be accretive to both BAM and BN. Elizabeth Cooper, Matt Rogers, Tom Wuchenich, Russell Light and Dan Webb of Simpson Thacher & Bartlett LLP acted as legal advisor to Oaktree Capital Management, L.P. Brian Parness, Amanda Fenster, Matt Gilroy, Alexander Miachika and Devon Bodoh of Weil, Gotshal & Manges LLP served as legal advisor to Brookfield.

As of March 5, 2026, European Commission approves acquisition of Oaktree by Brookfield.


Brookfield Corporation (TSX:BN) and Brookfield Asset Management Ltd. (TSX:BAM) completed the acquisition of the remaining 26% stake in Oaktree Capital Management, L.P. on March 5, 2026.