Howard Mark’s $85 billion fund, Oaktree Capital Management, is going public.
This isn’t the first time Oaktree shares have been on offer to the “public.”
In 2007, Marks, with others, raised $700 million when they sold a minority stake (approximately 30%) in the firm to institutional investors.
But they were disappointed in the result, according to Dealbook, because the investors found it “difficult to trade the stock” — the shares were traded on an exchange run by Goldman Sachs.
Goldman has been tapped by Oaktree to oversee the transfer of the shares from the Goldman exchange to the NYSE.