Overview

• BAM will fund about $1.6 billion of the purchase price, with BN contributing about $1.4 billion.
• Oaktree equity holders may elect cash, BAM shares or limited BN shares, with two-year and five-year lock-ups on any stock received.
• Closing is targeted for the first quarter of 2026, pending regulatory approvals and other customary conditions.
• Leadership plans call for Howard Marks to remain on the BN board, Bruce Karsh to join the BAM board, and Robert O’Leary and Armen Panossian to serve as co-CEOs of Brookfield’s credit business.
• The deal expands Brookfield’s U.S. footprint to roughly $550 billion in assets, while Oaktree reports $209 billion AUM and helped drive about $2.8 billion in fee-related earnings on a 100% basis.