• Home
  • About
  • Investors
  • Strategies
  • People
  • Insights
  • Careers
  • Contact Us
  • Press
  • Login
  • Login
  • Press
  • Contact Us
  • Careers
  • Home
  • About
  • Investors
  • Strategies
  • People
  • Insights
  • Credit
    • Distressed Debt
    • High Yield Bonds
    • Senior Loans
    • Private/Alternative Credit
      • Strategic Credit
      • U.S. Private Debt
      • European Private Debt
      • Structured Credit
    • Convertible Securities
    • Multi-Strategy Credit
    • Emerging Markets Debt
  • Private Equity
  • Real Assets
  • Listed Equities
  • Home/
  • Strategies/
  • Credit/
  • Private/Alternative Credit/
  • U.S. Private Debt

U.S. Private Debt


Oaktree established the U.S. Private Debt strategy as a step-out of the U.S. High Yield Bond strategy, calling on Oaktree’s expertise in sub-investment-grade lending, private equity and, when needed, restructuring. The U.S. Private Debt strategy seeks to achieve attractive, risk-adjusted absolute returns by originating or participating in the syndication of performing debt issued privately by U.S. borrowers. Initially focused on mezzanine financings, the strategy has evolved to include directly originated senior loans.


“We source transactions from our extensive relationships in the private equity, intermediary and banking communities. Our group targets investments in companies that are unable to access widely available financing sources for leveraged buyouts, recapitalizations, acquisitions and corporate growth," says Bill Casperson, co-portfolio manager. "We look for companies with a strong relative market position and a well-developed business strategy, in addition to sustainable cash flows and a proven management team," adds co-portfolio manager Raj Makam.


The key elements of our approach include working with experienced management teams and strong equity sponsors, conducting thorough due diligence for every transaction, avoiding overpriced transactions, targeting conservative deal structures, participating in company governance (through board seats or observer rights) and actively monitoring investments to stay ahead of potential credit issues.



Click here for information regarding risk disclosures associated with our strategies.
U.S. PRIVATE DEBT TEAM
  • Bill Casperson
    Co-Portfolio Manager,
    U.S. Private Debt Group
  • Raj Makam
    Co-Portfolio Manager,
    U.S. Private Debt Group
  • Peter Chang
    Assistant Portfolio Manager
    Mezzanine Finance
See the complete team

ABOUT THE STRATEGY

 
Assets Under Management
$2,178 million
 
Location
New York
 
Strategy Inception
2001

Related Insights

Oaktree Insights

PCQ 4Q2020Performing Credit Quarterly 4Q2020
Performing Credit Quarterly 3Q2020
Performing Credit Quarterly 2Q2020
Surviving and Thriving in an Era of ‘Lower for Longer’
Investing in Credit Today
Investing in Mezzanine Debt

Videos

Risk Management with Raj Makam
  • About
  • Investment Philosophy
  • Business Principles
  • Responsible Investing
  • Our Communities Matter
  • Diversity & Inclusion
  • Investors
  • Institutional Investors
  • Financial Professionals
  • Individual Investors
  • Public Unitholders
  • Strategies
  • Credit
  • Private Equity
  • Real Assets
  • Listed Equities
  • People
  • Senior Executives and Directors
  • Investment Professionals
  • Marketing and Client Relations
  • Corporate
  • Insights
  • Memos from Howard Marks
  • Oaktree Insights
  • Videos
  • Podcasts
  • Brookfield
  • Careers
  • Contact Us
  • Press
  • Login
© 2007-2021 Oaktree Capital Management, L.P. All rights reserved. Securities offered through OCM Investments, LLC (Member FINRA), a subsidiary of Oaktree Capital Management, L.P.
  • Terms and Conditions
  • Privacy Policy
  • Disclosures
  • Form CRS