Oaktree Capital Management announced on July 29th that it has agreed to acquire a 20% strategic stake in Chilean-based asset management firm and placement agent Singular. This is Oaktree’s first corporate acquisition in Latin America.
Howard Marks, Co-Chairman of Oaktree, stated, "We have worked with the people of Singular for seven years. We respect them; their work in the region has been excellent; and most importantly they embody Oaktree’s culture. We are very glad to take this next step in extending our relationship and deepening our commitment to Latin America.”
“I am pleased to continue our work with the Singular team,” said Daniel Saieh, a Managing Director at Oaktree specializing in distribution of funds in Latin America. “They have been great partners for Oaktree and our clients and I look forward to expanding this important relationship throughout the region.”
Singular will continue to operate independently. Oaktree will have the right to appoint one representative to Singular’s board of directors.
Singular Chairman Pablo Jaque said, “We are thrilled to partner ever more closely with Oaktree. We welcome the expertise and best practices Oaktree has to offer to our platform as well as their additional support as we continue developing our asset management business across Latin America.”
Oaktree is a leader among global investment managers specializing in alternative investments, with 119 billion dollars in assets under management as of March 31, 2019. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 950 employees and offices in 18 cities worldwide.
Singular is an asset management company based in Chile bringing a long track-record in managing institutional money to the Latin American market and extensive experience as Oaktree strategies’ institutional distributor in the region.