Brookfield to acquire remaining 26% of Oaktree for ~$3B; expected close Q1 2026

Brookfield Oaktree Holdings, LLC

Total consideration ~$3B; BAM and BN fund ~$1.6B and ~$1.4B respectively.
Oaktree common equity holders can elect cash, BAM shares (2-yr lock-up), or BN shares (5-yr lock-up).
Howard Marks and Bruce Karsh remain in senior roles; Karsh to join BAM board; O'Leary and Panossian become Co-CEOs of Brookfield's credit business.
Transaction expected accretive to BAM and BN; U.S. becomes BAM's largest market with >$550B in assets.
Outstanding Series A and Series B preferred units of Brookfield Oaktree Holdings unaffected.

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