Oaktree Capital Management, L.P.
- Regulatory AUM
- $183B
- Discretionary
- $181B
- Clients
- 373
- Avg AUM / client
- $491M
- Accounts
- 620
- Employees
- 905
AUM over time
Annual snapshots from Form ADV filings · as of Jul 28, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 275 | $149B | 81.5% |
| Pension and profit sharing plans | 37 | $9.9B | 5.4% |
| Charitable organizations | 1 | $309M | 0.17% |
| State or municipal government entities | 12 | $5.5B | 3.0% |
| Other investment advisers | 2 | $394M | 0.22% |
| Insurance companies | 30 | $15.6B | 8.51% |
| Sovereign wealth funds and foreign official institutions | 1 | $283M | 0.15% |
| Corporations and other businesses | 12 | $1.6B | 0.88% |
| Other | 3 | $394M | 0.21% |
Private funds (259)
View all →Reported in Form ADV Section 7.B.(1), filing of Dec 2024 · $106B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Oaktree Opportunities Fund Xi, L.P. master | Hedge Fund | Cayman Islands | $9.4B | 116 |
| Oaktree Opportunities Fund Xb, L.P. master | Hedge Fund | Cayman Islands | $9.1B | 275 |
| Oaktree Opportunities Fund Xi (Parallel), L.P. master | Hedge Fund | Cayman Islands | $4.1B | 12 |
| Oaktree Opportunities Fund Ix, L.P. master | Hedge Fund | Cayman Islands | $3.2B | 167 |
| Oaktree European Capital Solutions Fund Iii Feeder (Jpyh), L.P. feeder | Hedge Fund | Cayman Islands | $2.7B | 9 |
| Oaktree Special Situations Fund Ii, L.P. master | Hedge Fund | Cayman Islands | $2.7B | 107 |
| Oaktree Real Estate Debt Fund Iii, L.P. master | Hedge Fund | Cayman Islands | $2.5B | 58 |
| Oaktree Real Estate Opportunities Fund Viii, L.P. master | Hedge Fund | Cayman Islands | $2.3B | 88 |
| Oaktree Global Credit Fund, L.P. master | Hedge Fund | Cayman Islands | $2.0B | 41 |
| Oaktree Opportunities Fund X, L.P. master | Hedge Fund | Cayman Islands | $1.8B | 179 |
| Oaktree Emerging Markets Equity Fund, L.P. master | Hedge Fund | Cayman Islands | $1.7B | 1 |
| Oaktree European Principal Fund Iii, L.P. master | Hedge Fund | Cayman Islands | $1.7B | 86 |
| Oaktree Real Estate Opportunities Fund Vii, L.P. master | Hedge Fund | Cayman Islands | $1.6B | 84 |
| Oaktree Opportunities Fund Xb (Parallel), L.P. | Hedge Fund | Cayman Islands | $1.5B | 7 |
| Oaktree Special Situations Fund Iii, L.P. master | Hedge Fund | Cayman Islands | $1.4B | 105 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Sdc League Pension Fund Board Of Trustees Sdc League Pension Fund | 2024 | |
| Hagerstown Motor Carriers And Teamsters Pension Plan Board Of Trustees Hagerstown Motor Carriers And | 2024 | |
| Massachusetts Bricklayers & Masons Pension Plan Massachusetts Bricklayers & Masons Pension Fund | 2024 | |
| Plumbers Local Union No. 16 Pension Plan Board Of Trustees Plumbers Local Union No. 16 Pension Plan | 2024 | |
| Enbridge Employee Services, Inc. Employees' Pension Plan Enbridge Employee Services, Inc. | 2024 | |
| Pacific Gas And Electric Company Retirement Plan Pacific Gas And Electric Company | 2024 | |
| Western Conference Of Teamsters Pension Plan Western Conference Of Teamsters Pension Trust Fund Board Of Trustees | Seattle, WA | 2024 |
People (11)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Marks, Howard, Stanley | Co Chairman | Apr 1995 (31y) | Less than 5% | |
| Stone, Sheldon, Michael | Principal | Apr 1995 (31y) | Less than 5% | |
| Karsh, Bruce, Allen | Co Chairman, Chief Investment Officer | May 1995 (31y) | Less than 5% | |
| Frank, John, Bernkopf | Vice Chairman | Jul 2001 (25y) | Less than 5% | |
| Vencatachellum, Rodney, Parama | Managing Director And Chief Compliance Officer | Mar 2016 (10y) | Less than 5% | |
| Levin, Daniel, Dane | Managing Director And Chief Financial Officer | Apr 2017 (9y) | Less than 5% | |
| Molz, Todd, Emmet | Chief Operating Officer | Mar 2024 (2y) | Less than 5% | |
| O'leary, Robert, J | Co Ceo | Mar 2024 (2y) | Less than 5% | |
| Panossian, Armen, Ryan | Co Ceo | Mar 2024 (2y) | Less than 5% | |
| Ting, Richard, Kwang Pei | General Counsel | Mar 2024 (2y) | Less than 5% | |
| Gregory Charles Brandner | Registered representative | Jun 2005 (21y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Oaktree Capital Management Gp, Llc | General And Limited Partner | Sep 2019 | A | 50% – 75% |
| Oaktree Capital Group Holdings, L.P. | Limited Partner | May 2007 | A | 25% – 50% |
| Oaktree Capital Holdings, Llc | Managing Member | Sep 2019 | B | ≈ 37.5% – 75% via Oaktree Capital Management Gp, Llc |
| Oaktree New Holdings Llc | Member | Sep 2019 | B | ≈ 28.13% – 75% via Oaktree Capital Holdings, Llc |
| Atlas Holdings Ii Llc | Member | Sep 2019 | B | ≈ 21.09% – 75% via Oaktree New Holdings Llc |
| Brookfield Us Inc. | Member | Dec 2022 | B | ≈ 8.9% – 75% via Atlas Top Llc |
| Brookfield Us Holdings Inc. | Shareholder | Nov 1994 | B | ≈ 6.67% – 75% via Brookfield Us Inc. |
| Brookfield Corporation | Shareholder | Dec 2022 | B | ≈ 3.75% – 75% via Brookfield Asset Management Ulc |
| Atlas Subco Holdings Llc | Member | Dec 2022 | B | ≈ 15.82% – 75% via Atlas Holdings Ii Llc |
| Atlas Top Llc | Member | Dec 2022 | B | ≈ 11.87% – 75% via Atlas Subco Holdings Llc |
| Brookfield Asset Management Ulc | Shareholder | Dec 2022 | B | ≈ 5.01% – 75% via Brookfield Us Holdings Inc. |
| Brookfield Asset Management Ltd. | Shareholder | Dec 2022 | B | ≈ 1.25% – 37.5% via Brookfield Asset Management Ulc |
| Oaktree Capital Group Holdings Gp, Llc | General Partner | May 2007 | B | GP / trustee / elected manager of Oaktree Capital Group Holdings, L.P. (indirect) |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Oaktree Capital Holdings, Llc: 75% – 100% of Oaktree Capital Management Gp, Llc × 50% – 75% direct ≈ 37.5% – 75% of the firm
- Oaktree New Holdings Llc: 75% – 100% of Oaktree Capital Holdings, Llc × 75% – 100% of Oaktree Capital Management Gp, Llc × 50% – 75% direct ≈ 28.13% – 75% of the firm
- Atlas Holdings Ii Llc: 75% – 100% of Oaktree New Holdings Llc × 75% – 100% of Oaktree Capital Holdings, Llc × 75% – 100% of Oaktree Capital Management Gp, Llc × 50% – 75% direct ≈ 21.09% – 75% of the firm
- Brookfield Us Inc.: 75% – 100% of Atlas Top Llc × 75% – 100% of Atlas Subco Holdings Llc × 75% – 100% of Atlas Holdings Ii Llc × 75% – 100% of Oaktree New Holdings Llc × 75% – 100% of Oaktree Capital Holdings, Llc × 75% – 100% of Oaktree Capital Management Gp, Llc × 50% – 75% direct ≈ 8.9% – 75% of the firm
- Brookfield Us Holdings Inc.: 75% – 100% of Brookfield Us Inc. × 75% – 100% of Atlas Top Llc × 75% – 100% of Atlas Subco Holdings Llc × 75% – 100% of Atlas Holdings Ii Llc × 75% – 100% of Oaktree New Holdings Llc × 75% – 100% of Oaktree Capital Holdings, Llc × 75% – 100% of Oaktree Capital Management Gp, Llc × 50% – 75% direct ≈ 6.67% – 75% of the firm
- Brookfield Corporation: 75% – 100% of Brookfield Asset Management Ulc × 75% – 100% of Brookfield Us Holdings Inc. × 75% – 100% of Brookfield Us Inc. × 75% – 100% of Atlas Top Llc × 75% – 100% of Atlas Subco Holdings Llc × 75% – 100% of Atlas Holdings Ii Llc × 75% – 100% of Oaktree New Holdings Llc × 75% – 100% of Oaktree Capital Holdings, Llc × 75% – 100% of Oaktree Capital Management Gp, Llc × 50% – 75% direct ≈ 3.75% – 75% of the firm
- Atlas Subco Holdings Llc: 75% – 100% of Atlas Holdings Ii Llc × 75% – 100% of Oaktree New Holdings Llc × 75% – 100% of Oaktree Capital Holdings, Llc × 75% – 100% of Oaktree Capital Management Gp, Llc × 50% – 75% direct ≈ 15.82% – 75% of the firm
- Atlas Top Llc: 75% – 100% of Atlas Subco Holdings Llc × 75% – 100% of Atlas Holdings Ii Llc × 75% – 100% of Oaktree New Holdings Llc × 75% – 100% of Oaktree Capital Holdings, Llc × 75% – 100% of Oaktree Capital Management Gp, Llc × 50% – 75% direct ≈ 11.87% – 75% of the firm
- Brookfield Asset Management Ulc: 75% – 100% of Brookfield Us Holdings Inc. × 75% – 100% of Brookfield Us Inc. × 75% – 100% of Atlas Top Llc × 75% – 100% of Atlas Subco Holdings Llc × 75% – 100% of Atlas Holdings Ii Llc × 75% – 100% of Oaktree New Holdings Llc × 75% – 100% of Oaktree Capital Holdings, Llc × 75% – 100% of Oaktree Capital Management Gp, Llc × 50% – 75% direct ≈ 5.01% – 75% of the firm
- Brookfield Asset Management Ltd.: 25% – 50% of Brookfield Asset Management Ulc × 75% – 100% of Brookfield Us Holdings Inc. × 75% – 100% of Brookfield Us Inc. × 75% – 100% of Atlas Top Llc × 75% – 100% of Atlas Subco Holdings Llc × 75% – 100% of Atlas Holdings Ii Llc × 75% – 100% of Oaktree New Holdings Llc × 75% – 100% of Oaktree Capital Holdings, Llc × 75% – 100% of Oaktree Capital Management Gp, Llc × 50% – 75% direct ≈ 1.25% – 37.5% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (259, $106B gross assets)
Top 25 of 259 funds by gross assets · all funds
From Form ADV Section 7.B private fund reporting.
Retirement plans served (7)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Sdc League Pension Fund | Board Of Trustees Sdc League Pension Fund | 1,252 | $50.9M | 09/01/2024 |
| Hagerstown Motor Carriers And Teamsters Pension Plan | Board Of Trustees Hagerstown Motor Carriers And | 357 | $223M | 07/01/2024 |
| Massachusetts Bricklayers & Masons Pension Plan | Massachusetts Bricklayers & Masons Pension Fund | 1,966 | $547M | 04/01/2024 |
| Plumbers Local Union No. 16 Pension Plan | Board Of Trustees Plumbers Local Union No. 16 Pension Plan | 531 | $96.0M | 04/01/2024 |
| Enbridge Employee Services, Inc. Employees' Pension Plan | Enbridge Employee Services, Inc. | 5,354 | $1.1B | 01/01/2024 |
| Pacific Gas And Electric Company Retirement Plan | Pacific Gas And Electric Company | 28,573 | $17.6B | 01/01/2024 |
| Western Conference Of Teamsters Pension Plan | Western Conference Of Teamsters Pension Trust Fund Board Of Trustees | 231,353 | $56.4B | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 05/21/2026 | 61.2 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
Allegations: THE SEC ALLEGED THAT IN THREE INSTANCES, OAKTREE PROVIDED ADVISORY SERVICES FOR COMPENSATION FOR TWO YEARS TO A STATE OR LOCAL GOVERNMENTAL INVESTOR AFTER A "COVERED ASSOCIATE" OF OAKTREE MADE A PERSONAL CAMPAIGN CONTRIBUTION TO A CANDIDATE FOR A GOVERNMENTAL POSITION WHICH HAD THE ABILITY TO INFLUENCE THE SELECTION OF INVESTMENT ADVISERS FOR THAT GOVERNMENTAL INVESTOR, IN TECHNICAL VIOLATION OF RULE 206(4)-5 UNDER THE ADVISERS ACT (THE SEC'S "PAY-TO-PLAY" RULE FOR INVESTMENT ADVISERS). THESE NON-SCIENTER BASED VIOLATIONS TOOK PLACE IN 2014 AND 2016. Status: Final Sanction Detail: OAKTREE PAID A CIVIL MONETARY PENALTY IN THE AMOUNT OF $100,000 WITHIN 10 DAYS OF THE ENTRY OF THE ORDER. Summary: THE ACTION WAS RESOLVED PURSUANT TO AN SEC ORDER DATED JULY 10, 2018: IN THE MATTER OF OAKTREE CAPITAL MANAGEMENT, L.P., ADMINISTRATIVE PROCEEDING FILE NO. 3-18585. WITHOUT ADMITTING OR DENYING THE FINDINGS EXCEPT AS TO THE COMMISSION'S JURISDICTION OVER IT AND THE SUBJECT MATTER OF THESE PROCEEDINGS, OAKTREE CONSENTED TO THE ENTRY OF THE ORDER THAT OAKTREE (I) CEASE AND DESIST FROM COMMITTING OR CAUSING ANY VIOLATIONS AND ANY FUTURE VIOLATIONS OF SECTION 206(4) OF THE ADVISERS ACT AND RULE 206(4)-5 THEREUNDER; (II) IS CENSURED; (III) PAY A CIVIL MONEY PENALTY OF $100,000 TO THE SEC.
Allegations: THE SEC FOUND THAT OAKTREE CAPITAL MANAGEMENT, L.P. FAILED TO TIMELY FILE REQUIRED SECTION 16(A) REPORTS AND FAILED TO TIMELY FILE SCHEDULE 13D AND SCHEDULE 13G AMENDMENTS AND THEREFORE VIOLATED AND CAUSED VIOLATIONS OF SECTIONS 13(D) AND 16(A) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES 13D-2 AND 16A-3 PROMULGATED THEREUNDER. Status: Final Sanction Detail: THE ORDER IS FINAL Summary: ON SEPTEMBER 25, 2024, THE SEC ACCEPTED OAKTREE'S OFFER TO RESOLVE AN INVESTIGATION INVOLVING SECTIONS 13(D) AND 16(A) OF THE SECURITIES EXCHANGE ACT OF 1934 (THE "EXCHANGE ACT") AND RULES 13D-2 AND 16A-3 THEREUNDER, WHICH REQUIRE CERTAIN INVESTORS, LIKE OAKTREE, THAT BENEFICIALLY OWN THE REGISTERED EQUITY SECURITIES OF A PUBLIC COMPANY TO FILE REPORTS WITH THE SEC OF THEIR BENEFICIAL OWNERSHIP IN THE EQUITY OF THE COMPANY, INCLUDING CHANGES IN THEIR BENEFICIAL OWNERSHIP, WITHIN SPECIFIED TIMEFRAMES. OAKTREE COOPERATED IMMEDIATELY AND FULLY WITH THE SEC'S INVESTIGATION, AND, WITHOUT ADMITTING OR DENYING THE SEC'S FINDINGS, IN A SETTLED PROCEEDING AGREED TO CEASE AND DESIST FROM COMMITTING OR CAUSING ANY VIOLATIONS AND ANY FUTURE VIOLATIONS OF SECTIONS 13(D) AND 16(A) OF THE EXCHANGE ACT AND RULES 13D-2 AND 16A-3 THEREUNDER AND TO PAY A $375,000 PENALTY.
Disclosure text reproduced verbatim from the firm's own Form ADV filings.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for individuals/small businesses
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- State Street $9.6B (5% of AUM) May 2026
- J.P. Morgan $7.5B (4% of AUM) May 2026
- BNY Mellon $6.2B (3% of AUM) May 2026
- Northern Trust $2.9B (2% of AUM) Feb 2023
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Jul 28, 2026.
View current Form ADV (SEC/IAPD) ↗