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Oaktree wraps up funding for its first QDLP fund

By NexChange
Hedge Funds

Oaktree may be expected to post weaker earnings on Friday, but it sure scored a big win on the funding circuit the other day.

Shanghai Daily reports that the L.A.-based fund manager secured RMB1 billion ($157 million) for its first Qualified Domestic Limited Partner (QDLP) fund, making it one of, if not the, largest QDLP fund currently in action.

Howard Marks, Oaktree’s distressed-asset virtuoso co-founder, had this to say:
“The QDLP program demonstrates China’s continued efforts to open up global investment opportunities. The encouraging results demonstrate that investors identify with Oaktree’s investment philosophy and risk-focused approach.”
Investors in the fund were Noah Holdings, CreditEase Wealth Management, and Harvest Capital Management. The fund, which will be managed offshore by Oaktree, is set to be invested using the firm’s bread and butter distressed-debt strategy.
Photo: Charis Tsevis

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