A strategic partner to, and minority investor in, DoubleLine Capital
is about to go public for up to nearly $600 million. More than nine month after disclosing its initial public offering plan, Oaktree Capital Group priced
its IPO today [filing
on Oaktree's updated filing.
The Los Angeles-based private equity firm expects the offering of 11.3 million shares to be pegged at between $43 and $46 per share, for a total of up to $595 million from the IPO. According to Reuters
, Oaktree's initial filing in June 2011 included an estimate that the IPO would raise up to $100 million.
and Morgan Stanley
are listed as the lead underwriters for the IPO. The others now include BofA Merrill Lynch, Credit Suisse, Deutsche Bank, J.P. Morgan, BNY Mellon Capital Markets, Keefe, Bruyette & Woods, Sandler O’Neill + Partners, L.P., SunTrust Robinson Humphrey, Wells Fargo Securities, and Sanford C. Bernstein.
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