Brookfield and Oaktree Merger Creates a Global Leader in Alternative Investments

March 13, 2019 - NEW YORK

Brookfield Asset Management Inc. (NYSE: BAM) announced today that it has entered into an agreement to acquire a majority stake in Oaktree Capital Group LLC (NYSE: OAK).

The combination of Brookfield and Oaktree creates one of the world's largest alternative asset managers with approximately $500 billion in assets under management. Oaktree will continue to operate as an independent business within the Brookfield organization.

"This transaction brings together two highly successful asset managers with complementary strengths," said Bruce Flatt, Chief Executive Officer of Brookfield. "Oaktree's leading position in global alternative investments, particularly private credit, real assets and global listed equities, will enhance our ability to offer our clients a full suite of investment solutions."

"We are excited to join forces with Brookfield," said Howard Marks, Co-Chairman of Oaktree. "We believe this transaction will create a more powerful and resilient franchise that will be well-positioned to generate strong returns for our clients."

The transaction is expected to close in the second half of 2019.