Oaktree raises investment under QDLP
Print Edition
Oaktree Capital Management, a US-based investment firm focusing on alternative assets, said yesterday that it has secured 1 billion yuan (US$157 million) in funds under the Qualified Domestic Limited Partner program.
Investors which invested the sum in Oaktree were Noah Holding, CreditEase Wealth Management and Harvest Capital Management, the company said at a media briefing in Shanghai yesterday.
The capital will be invested in an offshore fund managed by Oaktree, as part of its distressed-debt strategy.
“The QDLP program demonstrates China’s continued efforts to open up global investment opportunities,” said Howard Marks, co-chairman and co-founder of Oaktree.
Oaktree was one of six foreign hedge fund managers that were selected by the Shanghai Financial Service Office to participate in the QDLP program in 2013.
The trial program allows international hedge funds to raise yuan capital on the Chinese mainland for investment in offshore products such as real estate trusts and hedge funds.
With offices in Shanghai, Beijing and Hong Kong, Oaktree has invested over US$5 billion in China, the company said.
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