Mayer Brown advised the special committee of the board of directors of Oaktree Capital Group, LLC on the purchase by Brookfield Asset Management of a 62 percent interest in Oaktree. As part of the transaction, Brookfield will acquire all outstanding Oaktree Class A units for either $49 in cash or 1.0770 Class A shares of Brookfield per Oaktree Class A unit at the election of the Oaktree Class A unitholders (subject to pro-ration).

With this transaction, the two companies together will have approximately $475 billion of assets under management and $2.5 billion of annual fee-related revenues. Both companies will continue to operate their respective businesses independently, with each remaining under its current brand and led by its existing management and investment teams. The transaction is expected to close in the third quarter of 2019.

The Mayer Brown team was led by Corporate & Securities partners Tom Vitale, Colin Carley (both New York) and Andrew Noreuil (Chicago) and included lawyers from the firm’s Corporate & Securities, Tax Transactions & Consulting and Litigation & Dispute Resolution practices in Chicago and New York.